Nebraska Didn’t Go Bankrupt But Its Budget Did

How one red state’s tax cuts exposed a national blueprint for economic sabotage.

A TikTok clip went viral: “Nebraska is bankrupt!” It’s false, but only technically. Nebraska can’t legally declare bankruptcy; its constitution demands a balanced budget every year. Yet the state is staring down a significant deficit in the wake of tax cuts aimed at the wealthy and corporations, cuts that were sold as economic relief rather than revenue…