Jacob Moore: You know what moral hazard is, Ma? You know what that means?
Sylvia Moore: No.
Jacob Moore: It means that once you get bailed out, what's to stop you from taking another shot.
--Wall Street: Money Never Sleeps
Why would so many blue states and localities push for long term lockdowns when these measures would surely crush their main stream of resources: tax revenues? The answer seems obvious. They calculate that their behavior will be subsidized.
And now House Democrats are trying to make it happen.
Textbook moral hazard.
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