Their bonds sell at a discount relative to those of better-managed individual states. The higher debt service they must pay serves – to some degree – as a form of discipline against the temptation to spend now and pay later.
在美国，每个奉行不完善的财政政策的州都不免领受处罚。相对于那些管理较好的州，这些州的债券须打折出售，而它们要偿付的债务也更多，这在某种程度上对于现在开销、今后还债的行为是一种惩罚。