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The total of U.S. state debt, including pension liabilities, could surpass $4 trillion, with California owing the most and Vermont owing the least, a new analysis says. (http://www.cnbc.com/id/45019599 - broken link)
And california wants to give tuition to illegals.
I say let the states go belly up. They cause these problems on themselves.
I say let the states go belly up. They cause these problems on themselves.
It doesn't work that way. Cities can file bankruptcy, but States cannot. They're backed by the federal government. If a State goes belly up, we'll all be paying for it in one way or another, but hopefully you aren't taxed for it.
"On the night of Sept. 8, Gina M. Raimondo, a financier by trade, rolled up here with news no one wanted to hear: Rhode Island, she declared, was going broke.
Maybe not today, and maybe not tomorrow. But if current trends held, Ms. Raimondo warned, the Ocean State would soon look like Athens on the Narragansett: undersized and overextended. Its economy would wither. Jobs would vanish. The state would be hollowed out......
Well Michigan is actually one state that is turning it's economy around.
It would be highly unfair for hard working Americans to have to bailout a corrupt wild spending state like California. No way should that be done.
Well, California was the economic engine for the rest of the US during most of the 20th century. I'm sure Californians felt it unfair to share their wealth with the slacker states of this union.
Well, California was the economic engine for the rest of the US during most of the 20th century. I'm sure Californians felt it unfair to share their wealth with the slacker states of this union.
However, we are one nation, indivisible.....
California was not. It was the manufacturing states, states like Michigan where the automobiles were produced that drove the economy.
Why should we be one nation? California wants to go it's separate wild spending spree way, let it collapse.
California was not. It was the manufacturing states, states like Michigan where the automobiles were produced that drove the economy.
Why should we be one nation? California wants to go it's separate wild spending spree way, let it collapse.
You underestimate California, now and then.
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