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  1. 02-25-2009, 05:17 PM #1
    Texas2step
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    Should We Let California Go Bankrupt?

    February 25, 2009

    Should We Let California Go Bankrupt?
    By Steven Malanga

    A New York Times story about the budget deal that California legislators struck last week to close the state’s monstrous deficit noted that, “California is an example of what you will see across the countryâ€
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  2. 02-25-2009, 06:26 PM #2
    Bowman
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    YES!!

    Bankruptcy is the only way to reduce the excessive spending.
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  3. 02-25-2009, 07:03 PM #3
    carolinamtnwoman
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    Great post!
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  4. 02-25-2009, 09:24 PM #4
    SicNTiredInSoCal
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    Should We Let California Go Bankrupt?
    A resounding YES![/code]
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  5. 02-25-2009, 09:54 PM #5
    Paidmytaxes
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    YES, LET THEM TANK.

    THEN RAISE TAXES SO HIGH SQUEALING LIKE PIGS.
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  6. 02-25-2009, 10:04 PM #6
    miguelina
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    Yes, it's the only way to force them to face reality.
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  7. 02-26-2009, 12:35 AM #7
    Justthatguy
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    There is no law that would allow California to declare bankruptcy. But it could default, that is, not pay interest and or principal on debt obligations. Or it could become insolvent, that is, not have enough cash to pay bills. That almost happened just before the budget deal according to some. This new budget will not work mainly because it isn't supported by the voters. They want to spend the state into outer space. But when it comes to paying for it they get very angry. So if the truth be known the financial problems in California are due to an irrational electorate.
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  8. 02-26-2009, 12:22 PM #8
    SicNTiredInSoCal
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    So if the truth be known the financial problems in California are due to an irrational electorate.
    Otherwise known as "Libertards."
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