What are the differences between what the Federal government can do, and what the states and localities can do? What are the implications?

TAX = EXP. 

Study the State and Local finance as inherently different from the issues addressed by Federal Government in their respective budgets.

Discuss how States and localities will manage through the crisis is dependent upon their prior fiscal choices.

What are the differences between what the Federal government can do, and what the states and localities can do? What are the implications?

Discuss why these differences matter.

Provide examples and your justification or support.