Posted by grandpa3 on Tue, Feb 1, 2011, at 10:49 PM:
It is a dumb idea to even bring this up. If states file Bankruptcy they will just overspend again and again until they have to file Bankruptcy again.
If states are allowed to file then everyone that has a debt should file Bankruptcy, maybe even the USA can file and start all over again. People get dumber by the day.
Replies (1)
Irresponsible spending by governments, at any level, should not be solved by declaring bankruptcy. The original concept of bankruptcy, I believe, was to help those who through no fault of their own (illness, loss of job, etc.) were inundated with debts which they could not repay.
Imagine though ... a state declaring bankruptcy and then having no line of credit whatsoever ... having to live almost totally on their taxpayer contributions.
Hmmm ... That almost makes it sound like a rather good idea ... Better yet, the voters should see how to take away their governments' credit lines? We've lost complete control of our governments, at all levels, it seems.
-- Posted by gurusmom on Wed, Feb 2, 2011, at 12:42 AM
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It is a dumb idea to even bring this up. If states file Bankruptcy they will just overspend again and again until they have to file Bankruptcy again.
If states are allowed to file then everyone that has a debt should file Bankruptcy, maybe even the USA can file and start all over again. People get dumber by the day.
Replies (1)