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Thread: Path Is Sought for States to Escape Debt Burdens

  1. #11
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    Re: Path Is Sought for States to Escape Debt Burdens

    Cutting spending in a consumer based market...sometimes I wonder if conservatives are pretending that our industry is based on manufacturing and agriculture.

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by MaggieD View Post
    States had better be able to find an alternative. The bond market is collapsing right now due to these rumors. It's a matter of time before nobody's going to buy their debt paper whether they declare or not. It would be a complete disaster. Would the Chinese buy our national debt if bankruptcy of states became possible? That's an unspoken warning that the Fed could do the very same thing. What a freakin' mess.

    I cannot imagine that happening. What does that solve? Just gives more time for another run-up to the stratosphere.

    If public sector unions will not renegotiate their onerous contracts, they will be ultimately responsible for something a whole lot worse than The Great Depression.
    Have you seen what the average Fed worker is making these days?
    Federal workers earning double their private counterparts
    Federal workers earning double their private counterparts - USATODAY.com
    Their pay freeze is a joke too. Smoke and mirrors. Promote someone and voila... a raise.

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    when you have NO MORAL COMPASS.

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by CriticalThought View Post
    Cutting spending in a consumer based market...sometimes I wonder if conservatives are pretending that our industry is based on manufacturing and agriculture.
    Spending money we don't have, only Liberals call this smart.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by Albert Di Salvo View Post
    What choice is there? None. The states have to be given protection from creditors. It's the only reasonable thing to do. Let a Bankruptcy Court judge decide what is fair and what is unreasonable.
    And the muni bonds go in the toilet.

    Well done...

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by hazlnut View Post
    And the muni bonds go in the toilet.

    Well done...
    that was all ready discussed.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by hazlnut View Post
    And the muni bonds go in the toilet.

    Well done...
    For the life of me, I don't see how this can happen.

    If one state is allowed to write off its muni debt, it will cripple every other state's ability to raise funds. And, of course, China would be wonderin' about the Feds. I'm thinking a reorganizational bankruptcy...exempting muni's. Anything short of that will bring on complete disaster.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by hazlnut View Post
    And the muni bonds go in the toilet.

    Well done...
    So what then? A federal bailout? At $14 trillion in debt, where are the feds going to get it?

    California is a like that alcoholic relative that is constantly needing a place to stay and can't keep a job.

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    Re: Path Is Sought for States to Escape Debt Burdens

    States need to live within their means. Federal govt. needs to live within their means. People need to live within their means. Its going to hurt, but cuts in or elimination of many programs are going to have to happen to bring the budget in line with income and to eliminate the State debt. If our elected officials can't do the job, we need people who can and will.
    "I can explain it to you but, I can't understand it for you"

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by Erod View Post
    So what then? A federal bailout? At $14 trillion in debt, where are the feds going to get it?

    California is a like that alcoholic relative that is constantly needing a place to stay and can't keep a job.
    And the drunks elected the equivalent of Hazlnut as governor. How is that going to work out?

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    when you have NO MORAL COMPASS.

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by PeteEU View Post
    Hmm wrong thread maybe?
    Yes, you are always in the wrong thread.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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