Take Away The Keys

Interesting idea:

Via the Volokh Conspiracy, where there’s this additional suggestion: “Any law that lets states be bailed out should require them to renounce their state status and revert to being territories, to be reorganised by the federal government as new states. That has the advantage of getting rid of the old, dysfunctional, state government, removing the state and its inhabitants from national influence until they’ve had a chance to learn some wisdom, and being enough of a penalty to make bailouts unattractive to other states.” I see many problems with this approach, but I admire its spirit.