Bankruptcy being considered for failed blue states

redrumloa

redrumloa

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http://www.cnbc.com/id/41189172

Policy makers are working behind the scenes to come up with a way to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers.

Unlike cities, the states are barred from seeking protection in federal bankruptcy court. Any effort to change that status would have to clear high constitutional hurdles because the states are considered sovereign.

But proponents say some states are so burdened that the only feasible way out may be bankruptcy, giving Illinois, for example, the opportunity to do what General Motors did with the federal government’s aid.
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Bend over USA.
 
We're already bent sir. The only thing I hate is that I didn't buy my personal million dollar McMansion like everyone else when I had the chance..

Wayne
 
I'm not sure I get the relevance of the colour.

Is it:

a) If the 'failed' states were 'red' bankruptcy wouldn't be considered?

b) If the 'failed' states were 'red' they wouldn't have had any financial problems?

or:

c) If the 'failed' states were 'red' you wouldn't be able to use their colour to have a go at them and almost certainly wouldn't have mentioned their colour at all?

;-)
 
@Robert
There are no failed red states, only failed blue states. Blue is the color of failure, don't ya know? :wink:
 
redrumloa said:
@Robert
There are no failed red states, only failed blue states. Blue is the color of failure, don't ya know? :wink:
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And red is the colour of communism, which is appropriate because the red states tend to be subsidized by the blue states ... which is why the blue ones would like to declare bankruptcy. Bankruptcy is a way to cut your loses. People who are really in the red have nothing left to lose.
 
quote
"One suggestion to reduce deficit spending may be to cut back on Red States receiving more than they contribute."
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Really kind of funny, but that's what happens when Democrats try to buy votes in poor red states. Money out the door, but no joy for the Dims.
 
Fade said:
quote
"One suggestion to reduce deficit spending may be to cut back on Red States receiving more than they contribute."
--------------------------------------------------
Really kind of funny, but that's what happens when Democrats try to buy votes in poor red states. Money out the door, but no joy for the Dims.
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Nice try but I'd think this goes both ways. Certainly Republicans are known for their Bridges to No Where projects too.
 
Faethor punted;
"Nice try but I'd think this goes both ways. Certainly Republicans are known for their Bridges to No Where projects too."
----------------------------------------------

I'll call that and raise you by
Social Security,
Medicare,
Medicaid,
The Great Society,
Free School Lunch,
Wic,
Food Stamps,
Obamacare,
Bank Bailout
GovernmentMotors,
and a complete Airport for no Airplanes or Passengers. :whack:

Come back.
 
Fade said:
Faethor punted;
"Nice try but I'd think this goes both ways. Certainly Republicans are known for their Bridges to No Where projects too."
----------------------------------------------

I'll call that and raise you by
Social Security,
Medicare,
Medicaid,
The Great Society,
Free School Lunch,
Wic,
Food Stamps,
Obamacare,
Bank Bailout
GovernmentMotors,
and a complete Airport for no Airplanes or Passengers. :whack:

Come back.
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Strange 'arguement' I agree the Dems overspend, note the Republicans overspend too and your response is essentially to restate the Dems overspend? Each party has a slightly different set of coiffers they fill. It's as simple as that.


As for bank bail outs I hope you do realize the Bank Bailout were under the Bushes right? Bush Jr passed TARP. Bush Sr lead the financials for the Billions bailout in the 80s. So certainly this should be on your Republican list too.

And as for Obamacare the government is already setup to pay various medical expenses. With Obamacare, according to the party neutral CBO, the government's amount is reduced in comparison to not having it in place.
 
faethor said:
As for bank bail outs I hope you do realize the Bank Bailout were under the Bushes right? Bush Jr passed TARP. Bush Sr lead the financials for the Billions bailout in the 80s. So certainly this should be on your Republican list too.
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The Bushes are naturally banker friendly. Prescott Bush (Bush 41's father) was a banker. Jonathan Bush (Bush 41's brother) is a banker. Neil Bush (Bush 41's son) was on the Board of Silverado Savings and Loan (the collapse of which cost taxpayers $1.3 billion)
 
Sez Faethor
"As for bank bail outs I hope you do realize the Bank Bailout were under the Bushes right? Bush Jr passed TARP."
--------------------------------------

Yes I do. Passed by Democrat House, seconded by Democrat Senate, singed by Republican President, and then spent by a Democrat President.

But that is not the worst of it! When Tarp money started getting repaid, instead of putting those funds back into the coffers, this same group of Democrats treated it like found gold and just spent it for new Democrat agendas. The very reason so many of them were thrown out of office this past election. The liberal view of who was responsible for the money being spent rings hollow.
 
Fade said:
Sez Faethor
"As for bank bail outs I hope you do realize the Bank Bailout were under the Bushes right? Bush Jr passed TARP."
--------------------------------------

Yes I do. Passed by Democrat House, seconded by Democrat Senate, singed by Republican President, and then spent by a Democrat President.
Click to expand...

This exchange should tell you both all you need to know about what is wrong with US (and UK) politics but I fear you're both far too busy fighting for "your team" too notice that they're two cheeks of the same arse.
 
Fade said:
Sez Faethor
"As for bank bail outs I hope you do realize the Bank Bailout were under the Bushes right? Bush Jr passed TARP."
--------------------------------------
Yes I do. Passed by Democrat House, seconded by Democrat Senate, singed by Republican President, and then spent by a Democrat President.
Click to expand...
You forgot a couple of points; purposed by a Republican president and while the House and Senate had the Democratic Party in the majority it couldn't have passed if some Republicans didn't vote Yeah too. 34 Republican Senators and 91 Republican House members in the case of the TARP.

And overall a good illustration of my point -- " Each party has a slightly different set of coiffers they fill. It's as simple as that" Both are guilty as you've clearly demonstrated.
 
Robert said:
Fade said:
Sez Faethor
"As for bank bail outs I hope you do realize the Bank Bailout were under the Bushes right? Bush Jr passed TARP."
--------------------------------------

Yes I do. Passed by Democrat House, seconded by Democrat Senate, singed by Republican President, and then spent by a Democrat President.
Click to expand...

This exchange should tell you both all you need to know about what is wrong with US (and UK) politics but I fear you're both far too busy fighting for "your team" too notice that they're two cheeks of the same arse.
Click to expand...
:lol: what a perfect picture!
 
Fade said:
But that is not the worst of it! When Tarp money started getting repaid, instead of putting those funds back into the coffers, this same group of Democrats treated it like found gold and just spent it for new Democrat agendas. The very reason so many of them were thrown out of office this past election. The liberal view of who was responsible for the money being spent rings hollow.
Click to expand...
Not quite TARP but stimulus fundings which the Republicans railed against has been used by many Republicans. For example, Republican Gov. of Texas Rick Perry used stimulus funding to cover 97% of the $6.6Billion short fall in that red state.

As Robert so eloquently stated -- two different sides of the same arse.
 
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