Thread: 46 Of 50 States Could File Bankruptcy In 2009-2010

46 Of 50 States Could File Bankruptcy In 2009-2010

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There is a high chance a majority of the States within the United States of America could file for Chapter 9 bankruptcy. There are currently 46 states with high budget deficits, Arizona being one of them.



In fact, Jan Brewer, the newly appointed Governor of Arizona has a major crisis on her hands, one that Arizona and national media isn’t covering. The alarming news is the State of Arizona has 90 to 120 days before they completely run out of money. After that, all bills and tax refunds owed to the citizens will go unpaid.

Before Janet Napolitano left for her new Homeland secretary position, she had a stand-off with Arizona Treasurer Dean Martin. The AZ Treasurer forewarned Napolitano about Arizona’s financial crisis, but she refused to heed his words.

With neighboring California on the verge of bankruptcy this year, many States will follow in their steps.

Many States are already scurrying to cut unwanted costs, cut State-funded programs, raise taxes, not issue tax refunds to their citizens, and borrow money just to survive in 2009. Unfortunately, many banks — the same banks the Fed bailed out — are refusing to loan money to the States and their Treasury agencies.

The article, State Budget Troubles Worsen, at the Center on Budget and Policy Priorities website is an excellent piece to read. It shows where each State currently stands in these challening economic times, and you see 46 of the 50 States are clearly in the financial red.

It’s very possible you’ll see the end of the United States as we know it. If the Fed doesn’t bailout the States when their cash dries up and the banks don’t loan them money, then our States will be left in financial ruin. This would be a tragic and unprecedented event never experienced in the United States.

No State has ever filed bankruptcy, but it could be coming to a State near you this year.

We are on the brink of something far worse than the Great Depression.

http://freedomarizona.org/2009/01/30/46 ... 2009-2010/

Let us have faith in that last nights show (Feb 2nd) of Lou Dobbs and William Gheen showed more light on one way to curb some of this debt and where a great deal of tax payers dollars go to.

Maybe they got more Americans aware of what is truly happening and more demands will be made by the AMERICAN CITIZENS

This country is in a meltdown and there needs to be something done and done quickly. First we need to ARREST ALL the people involved in this GREAT CRISIS. The GREEDY business exec's I'm sure we could find some room in our already over populated prisons

Originally Posted by uniteasone

. First we need to ARREST ALL the people involved in this GREAT CRISIS. The GREEDY business exec's I'm sure we could find some room in our already over populated prisons

Let us not forget to make room for all the corrupt politicians who helped bankrupt this Nation by encouraging Illegal Immigration. From the towns, cities, states and federal levels they should go into REAL PRISONS not places like Allenwood Pa..

Meanwhile states as Mexifornia continue to subdsidize the never ending flood of impoverished humanity illegally crossing the borders forcing taxpayers to spend more than 400 billion dollars annually for illegal alien health care, welfare, food stamps, education, heating, other home assistance, unemployment insurance and other benefits while cutting medicare for seniors, medicaid for indigent Americans and other programs for the blind and needy Americans. With employers no longer required to verify social security numbers and citizenship status more illegal aliens will take jobs from unemployed Americans. The open borders cheap labor agenda for congress' corporate, Chamber of Commerce and Mexican government masters is in full swing and to hell with suffering and struggling Americans.

No worries folks, Obama will save us.

Pray, pray and pray. We are all going to need it if this happens.