You wish the federal government had any such rainy day funds! Instead the federal government is piling on $ hundreds of billions in debt every year (see chart below)!
"At least 17 states have authorized and or made withdrawals from their rainy day funds this year in order to cover fiscal shortfalls, according to a new analysis by The Pew Charitable Trusts. Some withdrawals were small, others were more than half of what was set aside. ... “Before the longest economic recovery in U.S. history came to an abrupt end, at least 33 states had saved enough to cover a greater share of government operating costs than in fiscal 2007, the last full budget year before the Great Recession,” the report states.
States had entered the 2020 budget year with a record $118.8 billion in total balances, including $75.2 billion in rainy day funds, Pew found."
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