Comments on: Bankruptcy code won’t cure what ails U.S. states http://blogs.reuters.com/breakingviews/2011/01/19/bankruptcy-code-wont-cure-what-ails-u-s-states/ Mon, 17 Jun 2013 22:19:50 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: JKPICT http://blogs.reuters.com/breakingviews/2011/01/19/bankruptcy-code-wont-cure-what-ails-u-s-states/comment-page-1/#comment-6031 JKPICT Thu, 20 Jan 2011 21:58:01 +0000 http://blogs.reuters.com/columns/?p=5135#comment-6031 While I agree with your premise, in the past, states that have defaulted have not suffered in the long term. Mississippi defaulted on bonds in the 19th Century (the bonds trade as collector's items)and is still around. Of course, 20% of the population is on food stamps and a lot of the workforce actually is employed directly or otherwise by the federal government. I think the proposal is unworkable - because the politicians would not have the guts to make the necessary cuts. While I agree with your premise, in the past, states that have defaulted have not suffered in the long term. Mississippi defaulted on bonds in the 19th Century (the bonds trade as collector’s items)and is still around. Of course, 20% of the population is on food stamps and a lot of the workforce actually is employed directly or otherwise by the federal government.
I think the proposal is unworkable – because the politicians would not have the guts to make the necessary cuts.

]]> By: Gotthardbahn http://blogs.reuters.com/breakingviews/2011/01/19/bankruptcy-code-wont-cure-what-ails-u-s-states/comment-page-1/#comment-6026 Gotthardbahn Thu, 20 Jan 2011 17:10:36 +0000 http://blogs.reuters.com/columns/?p=5135#comment-6026 Tax hikes = increased revenue? Have you learnt nothing over the past thirty years, Ms Crane? Labor bosses compromising? HUH Tax hikes = increased revenue? Have you learnt nothing over the past thirty years, Ms Crane?

Labor bosses compromising? HUH

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