Seaoat caused this and his liberal lemmings over the course of many years

http://www.thefiscaltimes.com/2017/06/12/Could-Illinois-Be-First-State-Go-Bankrupt

Illinois could be first state to declare bankruptcy...beating out Cali, awesome.

Sorry, but there is no Bankruptcy law which covers the Bankruptcy of a State. There is no such thing.

The sock drawer sure gets full around here.

2seaoat wrote:Sorry, but there is no Bankruptcy law which covers the Bankruptcy of a State.  There is no such thing.

The sock drawer sure gets full around here.

No "waiting" this time.

http://www.zerohedge.com/news/2017-06-20/illinois-comptroller-state-can-no-longer-function-we-have-reached-new-phase-crisis

"Zero Hedge is a batshit insane Austrian school finance blog run by two pseudonymous founders who post articles under the name 'Tyler Durden,' after the character from Fight Club. It's essentially apocalypse porn. It has accurately predicted 200 of the last 2 recessions."


Zero Hedge! HAH-HAH-HAH!

States CANNOT declare Bankruptcy--which is what your original post claimed.

So tell us, is ignorance really bliss?

Bankruptcy is an article two court. Congress controls the code. There is nothing in the constitution which allows a state to declare bankruptcy. Nothing. The code does allow Counties, and cities to declare bankruptcy.

In regard to Illinois, it is a simple solution. Get rid of the current Republican governor who had only one purpose in running. To destroy government. Illinois has a structural problem which unlike California they are limited from instituting a progressive income tax. So, it has to be across the board which means that a guy making 50k and a guy making 10 million a year both pay the same rate. The state was fine when they put a temporary three year increase in the income tax, but the current Governor who is a nightmare, promised to eliminate the same and not replace it when it automatically expired.

Republicans cannot stand the governor. Democrats love him because he will guarantee the public backlash as this guy has not been able to present a budget because he never intended to present a budget. Oh, and for your information, I ran as a Republican for public office, and until Hillary Clinton I had NEVER voted for a Democrat for President. However, I am a real Republican, the party of Lincoln, and do not consider southern Republicans real Republicans. They are Dixiecrats. They are the antithesis of Lincoln.

2seaoat wrote:
I ran as a Republican for public office...   However, I am a real Republican,

Well, that certainly explains a lot, your antediluvian notions of fiscal responsibility for one thing.

Do you not consider it somewhat egotistical that YOU define what a Real Republican is?

Have you not read a single page of history?

Have you not noticed that political parties change and evolve over time?

Is it not supremely arrogant of you to declare that YOU are the sole arbiter of what constitutes a Real Republican?