Governors have so much extra money, they're giving it away

As America emerges from the deepest depths of our pandemic crisis, state governments find themselves with a happy problem: too much cash on hand, writes Edward J. McCaffery. Next comes the question of what politicians do when they have too much money.

As America emerges from the deepest depths of our pandemic crisis, state governments find themselves with a happy problem: too much cash on hand. Aided by federal Covid-relief dollars and now facing surging revenues due both to a fast-growing economy and inflation, states have more money than they presently can spend. Mirabile dictu.