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States: Bankruptcy or bailout by federal government?

jackrorabbit 2011/01/21 05:52:27
Related Topics: Debt, Government
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Read the article, then decide. Should we allow states that are in deep debt, such as Illinois and California to default and go bankrupt, or will We The People be forced to shoulder yet another massive bailout?

Read More: http://www.nytimes.com/2011/01/21/business/economy...

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  • BrianD3 2011/01/21 12:19:18
    Bankruptcy
    BrianD3
    let the states deal with the consequences of their own bad choices aand ploicies. it is not the duty of more responsible states to bail out losers and liberals
  • jackror... BrianD3 2011/01/22 07:24:58
    jackrorabbit
    +1
    I just went through the list of states, and none owe over 25% debt to GDP, why can't they fix the issue and pay off the debts?
  • jackrorabbit 2011/01/21 05:55:19
    Bankruptcy
    jackrorabbit
    +2
    While I feel for the bondholders in the state. The Federal Government simply cannot afford yet another massive bailout. These states chose to live beyond their means and made promises that they could not keep, so why should the people that live is responsible states like Texas or Virginia be forced to pay for the greed of other states. If you don't think it will happen on a federal level in a short while you are fooling yourself, and adding the states debts to national debt will only make the dollar that much weaker.

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