The Midwest is shrinking and at some point California, Texas and Florida would grow weary of propping up a perpetually insolvent institution either as a nationalized entity or a constantly bailed out private firm. Plus, no mainstream political figures were willing to tolerate nationalization.
We should be implementing policy that punishes industries in those states, we don't need to be incentivizing people to move to sh**thole climates. Appalachia, Mountain West/Pacific West should be propped up instead.
I'd much rather put up with a little heat and humidity if it means I don't have to worry about snow that often. We have been propping up Appalachia for decades now. While it would only be a smidgen of savings, the Appalachian Regional Commission should be eliminated. (As well as the copycat Delta Regional Authority.)