be a real Shame if the state's had to borrow at rates reflecting their expected likelihood of repaying their debtpic.twitter.com/k5lOCP4CTV
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If New York State declared bankruptcy would you want your state's Senators to vote Yes on a bailout non-americans please sit this one out its short :o)
badly written prompt should be "If the alternative were bankruptcy would you want . . ."
that which can be destroyed by the truth, should be or something
Responsibility for ones actions is an anathema to Democrats everywhere. They have sold the keys to the treasury to cobble together a coalition of the unwilling to take a fair share for themselves, and not worry about anyone else.
No we need to do this, this is basically inevitable, let's get a head start on the memecraft and this will be glorious
it strikes me that the concept of bankruptcy is kind of complicated when concerning an entity that's notionally sovereign
I'd be fine with some sort of bankruptcy measure as long as states that declare bankruptcy are also stripped of representation in Congress for a few decades
States can already default, although many have entrenched legal obstacles (eg constitutional bans). Bankruptcy would be a federal process and would (presumably) involve the bankruptcy court having latitude to restructure obligations broadly, in particular...
... I'm pretty sure the game here is letting them cut pensions and throw out collective bargaining agreements. Leaving aside the desirability of those things, I don't think it's intended as a serious proposal given a Democratic House.
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