The States Are Toast – Slate

"Leading serious conservative thinkers like Andrew Biggs and E.J. McMahon have argued that any aid to Illinois or New York should come with substantial conditions, from changed accounting rules to requirements that defined benefit pensions be moved to 401(k)-style defined contribution plans. The only thing that may save states from substantial conditionality is divided power in Congress and an inability of Democrats and Republicans to agree on the terms of conditions."