Thomas Sowell: Budget crisis rhetoric is a plea for a bailout

Government budget crises can be painful, but the political rhetoric accompanying these crises can also be fascinating and revealing. Perhaps the most famous American budget crisis was New York City’s, back during the 1970s. When President Ford was unwilling to bail them out, the famous headline in the New York Daily News read, “Ford to City: Drop Dead.”

Ford caved and bailed them out, after all.