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Thread: Path Is Sought for States to Escape Debt Burdens

  1. #21
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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.
    Sometimes I wonder if liberals are pretending that money grows on trees.
    "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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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by American View Post
    Sometimes I wonder if liberals are pretending that money grows on trees.
    Here's the deal. If the federal government bails out California, as it did GM, then what does that do to California's state's rights? What does the federal government get in exchange? Does California now have a lesser voice?

    Is this a route to a stronger central government and lesser state power like, oh, Arizona, which is taking on Washington for the right to institute a stronger immigration policy?

    Obamacare is going to bankrupt every state. Think about that.
    Last edited by Erod; 01-21-11 at 03:48 PM.

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by MrVicchio View Post
    Do you realize they let even a single SINGLE state do this, and the municipal bond market would collapse. How does that help anyone?
    No pain no gain. Investors and taxpayers will have to take the pain so that those who gamed the system can be swept overboard.

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by American View Post
    Yeah, let one man control the market. What's the difference between this and a dictatorship?
    You don't have proper respect for judges. That's not a virtue.

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by PeteEU View Post
    That is the only solution. The very fabric of the US at stake here.. if the other states or/and Feds dont help save states in trouble, then what is the freaking point of the US any more?

    Problem is to fix this issue, the states, politicians and so on have to come out of the total denial they are in.. all options including tax's going up, must be on the table.... and I think pigs will fly before that happens.
    You don't get it. There is no point in the continued existence of the current polity. It no longer makes sense. Let everyone go their own way in peace. Americans can be friends, but they cannot be brothers and sisters any more.

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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.



    [/U]
    The Chinese are slowly moving away from US Treasury securities. Btw, the Chinese do not buy state, local and municipal bond issues in America. This is irrelevant to them.

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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...
    Thank you. No pain no gain girlfriend. I see an opportunity to administer the coup de grace to a big segment of the left. That is the only thing that matters. It's dangerous to radicalize one's enemies isn't it?

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by Albert Di Salvo View Post
    The Chinese are slowly moving away from US Treasury securities. Btw, the Chinese do not buy state, local and municipal bond issues in America. This is irrelevant to them.
    In my opinion, it would not be irrelevant to them if our state governments began declaring bankruptcy. Right now, state's cannot legally declare bankruptcy. Change that law and destroy credibility. "Full faith and credit of the United States Government" could take on a whoooole new meaning...
    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 MaggieD View Post
    In my opinion, it would not be irrelevant to them if our state governments began declaring bankruptcy. Right now, state's cannot legally declare bankruptcy. Change that law and destroy credibility. "Full faith and credit of the United States Government" could take on a whoooole new meaning...
    I like you, but I don't agree with you on this issue. The FFandCredit Clause of the Constitution is applies to the federal govt., not state govts.

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    Re: Path Is Sought for States to Escape Debt Burdens

    Quote Originally Posted by Albert Di Salvo View Post
    I like you, but I don't agree with you on this issue. The FFandCredit Clause of the Constitution is applies to the federal govt., not state govts.
    Why, thank you, Albert Di Salva. I like you back. I fully realize that it applies to the Fed. We'll simply agree to disagree on this issue.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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