That’s an interesting hypothesis and different from the ones I’ve seen cited previously on these threads. Here’s another way of looking at the problem, again using California. It’s all but bankrupt and deeeeeep in the hole. If they go into default (and it doesn’t look like there is a single soul who will stand up to prevent it) the rest of us will likely be on the hook to bail them out.
Using similar “logic” shouldn’t we be able to “kick them out of the club”? through an involuntary secession which would serve to absolve us of complicity with their debts? (Not that I would ever do so because I don’t think that it is the responsible way of solving issues).
Yeah, you don't really need WW2 for that question. Could Jerry Brown and the California legislature do it today?...declare the union dissolved, seize all federal assets, (aircraft carriers, naval bases, etc), sell it all to China to pay their union pensions a little while longer. If it's good enough for South Carolina, why not Jerry Brown. lol
Using similar “logic” shouldn’t we be able to “kick them out of the club”? through an involuntary secession which would serve to absolve us of complicity with their debts? (Not that I would ever do so because I don’t think that it is the responsible way of solving issues).
Good point. I'm sure under that scenario the California legislators would cite all the taxes California has paid in the last 160+ years and therefore we have to bail them out rather than kick them out.