Fmr. Obama Treasury Official Rattner: Trend of People Leaving 'High-Tax' States Like NY Is 'Very Scary' for NY, NY Needs to Cut Spending

On Thursday's broadcast of MSNBC's "Morning Joe," Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, stated that the trend of people moving from "high-tax states" like California, New York, and Illinois to "lower-tax states" like Florida, Texas, Utah, Montana, and South Dakota "is a very scary trend for those of us who live in New York." And New York may need to take "a harsher, tougher look at where we spend our money." But, unfortunately, it's "heading in the wrong direction" and things will get so bad that they reach a critical mass.