Replies

To: Brilliant

Unfortunately for California, state governments cannot file bankruptcies.

Is that true? how come? what DO they do when they can't pay bills? has any state ever defaulted?

14 posted on 05/03/2009 5:49:56 PM PDT by beebuster2000

To: beebuster2000

You mean what do YOU and your grand kids do when YOU can’t pay THE STATES bill? Right?

Government has total tax power. They can, in theory, take everything you got, and everything your children will ever have.

16 posted on 05/03/2009 5:55:10 PM PDT by Leisler ("It is terrible to contemplate how few politicians are hanged."~G.K. Chesterton)

To: beebuster2000

They just don’t pay.

32 posted on 05/03/2009 7:07:55 PM PDT by Brilliant

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