CrazyPaul
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Should Big Bird be Killed OFF???
- Thread starter whatdidyousay!
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technically? of course not....technically - they can't go bankrupt cuz of federal assistance. but you missed the big keyword - "if we're going to do what rolling proposes....."
business goes broke, business ceases to exist. that's a fact of life and economics.
I wouldn't worry about east/west coast and Gulf states. It's the midwest states that are problematic.
Actually, it's a legal thing. Unlike cities, states can not declare bankruptcy. Their option is repudiation (If allowed in that state)....wiping their hands of the debt. There are bills attempting to change this.
There is not a Midwestern state in the top 10 in benefit/tax ratio. The only state that would concern me is New Mexico. Again this would be a very small reduction as a %
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Actually it is a good idea.
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repudiation? good luck!
and no - the states will not declare bankruptcy. they'll just simply go broke and cease to exist because there won't be anybody left to run the government. that's why it's essential to have federal government.
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Not sure what you mean by "good luck"....all I did was mention their option.
As far as "ceasing to exist" that is not really possible.
States would be forced to adjust their budgets and negotiate their debt.
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exactly. good luck.
As far as "ceasing to exist" that is not really possible.
nothing is impossible. it can be possible if federal government is just.... gone.... as what rolling wants.
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