Are you ready for your state to declare bankruptcy?

The American Thinker Blog ^ | January 22, 2011 | Rick Moran

[tbw2]

Debtors only gain from bankruptcy what lenders lose. This will crush the market for state bonds. Municipal bonds may not fair as bad, since cities can still owe their debts even if a state goes under.

My concern is the "federal bail out with strings", since it will likely be conditioned on the end of federalism. Federal money upon unilateral acceptance of federal power.

[Chode]

yup... they extorted their contracts through threats of strike and and walkouts and now they should have to live with the consequences of their ill gotten gains!!!

[SaraJohnson]

Unions did not have to “extort” anything from the socialists who run the States. The socialists got power by offering up the earnings of future generations to Union bosses.

Buying campaign contributions and votes with the public treasury is what election officials do now. No need to strike or bust Unions anymore. No one is looking out for the interests of the pulic nor looking to create and secure and prosperous future.

[Chode]

don't know where you're from, but, this is a republican county and has been since before i was born, and every union contract is fought tooth and nail...

[SaraJohnson]

Well, given the State governments being dicussed in this article gave away the store to Unions, there was not really much fighting going on in those states. I have lived all over the US. I have seen Rinos and Democrats totally owned by the pulic Unions. Any real “struggle” in Union dominated States is purely for public consumption.