Article

2011-01-20 Home Front: Politix

DeMint: There Will Be No Bailout for the States

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by DarthVader 2011-01-20 13:59|| || Front Page|| [11130 views ] Top

#1 "The Republicans plan looks pretty ugly, but I do not see any plausible alternatives."

-actually, what I think the states have done to themselves is pretty ugly. The Repubs' plan is sound (& pretty damn generous) considering the malfeasance of the state govt's of mexifornia & ILLinoise.

Posted by Broadhead6 2011-01-20 14:23|| 2011-01-20 14:23|| Front Page Top

#2 Only because they ran out of money bailing out the politically connected.

Posted by Bright Pebbles 2011-01-20 15:27|| 2011-01-20 15:27|| Front Page Top

#3 Only bubbles collapse, and the muni-bond market is part of the credit bubble. It's best to stop bubbles forming by controlling credit volume (i.e high reserves), but if they exist letting them implode is safer than keeping the economically harmful malinvestment caused by excess credit.

Posted by Bright Pebbles 2011-01-20 15:30|| 2011-01-20 15:30|| Front Page Top

#4 And while the states go through this 'bankruptcy' process they should get demoted to territories - until they can clean their house - and prove it.

No, sorry, but you can't vote yourself a bailout with other people's money.

Posted by CrazyFool 2011-01-20 16:53|| 2011-01-20 16:53|| Front Page Top

#5 What real choice is there? The 15 states already headed for bankruptcy constitute a solid majority of state population. Since (by definition) THEIR population can't pay the bills, bailing them out would amount to the rest of the population - a minority - paying their bills (through the Federal government, with extra overhead fees extracted.) THAT would bankrupt the rest of the states, in the end.
I bet this is how the Mayan and Egyptian empires collapsed - too many well-paid public employees for the population to support.

Posted by Glenmore 2011-01-20 19:44|| 2011-01-20 19:44|| Front Page Top

#6 There is an old American saying, "You don't rob Peter to pay Paul." Everybody in that stae bites the bullet. The liberal eperiment failed (again). You are a man if you can dust yourself off, roll up your sleeves, and start over again.

Posted by wr 2011-01-20 21:18|| 2011-01-20 21:18|| Front Page Top

00:06 trailing wife
23:55 JosephMendiola
23:53 JosephMendiola
23:47 JosephMendiola
23:45 USN,Ret
23:42 JosephMendiola
23:38 trailing wife
23:36 trailing wife
23:33 JosephMendiola
23:30 SteveS
23:27 JosephMendiola
22:58 anon1
22:52 anon1
22:42 Uleatch Dribble8106
22:39 Secret Master
22:30 USN,Ret
22:20 Procopius2k
22:18 Procopius2k
22:02 Frank G
21:57 USN,Ret
21:53 anon1
21:50 USN,Ret
21:41 Anonymoose
21:29 Pappy