Op-ed by E.J. McMahon, includes “… Congress shouldn’t feel compelled to subsidize what any state or local government ‘normally’ does. … Second, require states and large cities to produce budgets that are balanced on the basis of Generally Accepted Accounting Principles, the same condition New York state imposed on Gotham after the fiscal crisis of the 1970s. GAAP budgeting isn’t in itself a guarantee of good results. …” (Note: “GAAP budgeting” is also in need of reform, and New York City provides a good example of why.)