Less state debt, but a ‘lost decade’ for U.S. infrastructure spending, S&P finds
June 15, 2021
Most U.S. states took on less debt during the COVID-19 pandemic, continuing a years-long stretch of deleveraging, according to a report published Friday from credit rating agency, Standard & Poor’s. But an emphasis on pay-as-you-go spending for infrastructure is likely constraining needed upgrades, the report argues.