January 21, 2011

First Stop: State Bankruptcy, Next Stop: Central Government

A Path Is Sought for States to Escape Their Debt Burden

State Bankruptcy Option Is Sought, Quietly - NYTimes.com

By MARY WILLIAMS WALSH

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.

Senator John Cornyn asked this month whether Congress should consider establishing a bankruptcy procedure for states. 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.

Now I know I have been accused of wearing my tinfoil hat too much in the past, but did that last sentence ring any warning bells for anyone besides me?

Isn't this how the progressive system works?  They, out of the deep kindness and compassion in their hearts, do something utterly without malice or avarice. And then BLAM you realize you made a deal with the devil.

Sounds like they are prepared to allow the states to declare bankruptcy, and the price would be their sovereignty.  No more republic.  Only a large, centralized, all encompassing, all powerful nanny, State.  Either one by one, or more likely when the first hurdle to the bill is crossed, all at once…no more states rights.

Call me crazy but I think that is the sort of thing that makes Nancy Pelosi have warm and fuzzy feelings.

Posted by KOOK on 1/21/2011



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Andrew33 103p · 740 weeks ago

You nailed it. Of course, your tinfoil hat is nothing compared to my tinfoil thermal wetsuit, automobile wrap and wallpapered dining room so I am probably not the least biased one on this issue. This is one matters where those Repubs we helped elect to the House of Convicts..I mean House of Representatives (I forget Pelotox and LieBurn aren't in charge anymore) better step up or step down. The real reason they want to allow States to declare bankruptcy is because this is an opportunity that smart Governors can expose the big government lie through a little hard work and innovation. The last thing the Marxstream media and the progressive government establishment want is a Bobby Jindal or Chris Christie getting their states out from under the thumb of the "sugar daddy" Federal Government. The Stimulus money that that BHO and Pelotox so generously gave to the States was just like the bailouts of the big ripoff banks and crappy car manufacturers. They didn't get the fine print that said "oh by the way, no matter how much Crapulous you give back, the Feds aren't giving your company back to you" until after they had signed their corporations away. Interestingly, many of the large corporations that funded BHO's campaign only to get the "rectal exam by sledgehammer" treatment are now flooding money into Republican and the better known "tea party" organization coffers. The "stimulus" given to the states was similar in that after the end of last year, all those wonderful things the feds paid for became mandates and the states' taxpayers will have to pay for them from now on. That gives the states a choice of bankruptcy, 60% income tax increases such as in Illinois or states telling the to take their mandates and stick them someplace where sunburns will never be a problem. I choose option 3. This is where my tinfoil clothing and home decorating product lines come in. I believe that that BHO and Pelotox knew full well that they would lose big the '10 elections and set the economy up for a big collapse this year to blame it on Repubs. Why else would they set such things to happen this year? Also, guess what year most of BHO's mandates that don't start this year happen? 2014....right at the end of the "honeymoon period" of a new administration if BHO loses. It's just a coincidence though and my imagination is getting the best of me. I think i'm going to go snipe hunting tonight...anybody care to join me?
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deleted4448310 77p · 740 weeks ago

After all that has happened, I can't discount your theory.
1 reply · active 740 weeks ago
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Andrew33 103p · 740 weeks ago

Think about this, in an election where there was huge anti-incumbent sentiment, most of the newer 06-08 incumbents lost but the real power brokers several of whom had double digit poll deficits managed to pull out their races. Soros pulled enough funding to insure there wouldn't be enough funding for those dems and progressive repubs. Also, the most known tea party supported races such as Harry Reid in NV, Christine Odonnell, the Alaska race between Miller and Moocowski.... Except for Odonnell, all the others were nail biters, yet incumbents managed to get as much money as they needed to pull those out. Doesn't that make you wonder. Before, it was just a gut feeling, but evidence backs me up. Notice also that it was all blue dogs who opposed Pelosi, Reid or BHO that were sacrificed.
Now, one of the last powerful "blue dogs" has been shot. I'm not making any baseless accusations here but at a time when the left end of the Dem party seems to be purging itself of moderate voices, the Tucson shooting is extremely peculiar, don't you think. Either way, if Giffords is forced to give up her seat (which ideology aside) I hope not, Gov. Brewer would appoint a Repub which the Marxstream media and Dem left will make a big to do about. This is one time that I would allow Rep Giffords chose her own successor if she must step down since the Repub majority wouldn't be affected at all. It would make a good olive branch to rank and file moderate Dem voters showing that Brewer is not an extremist. Such actions would also disprove the lies propogated by the Marxstream media about "the enemy". I have other reasons for thinking this beyond what I listed in these comments but will keep them for myself for now.

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