hypocritexposer
Well-known member
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.
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.
:lol: :lol:
So now the Feds. consider the states sovereign :???:
Do you own State Bonds? Should you be selling them?
It would be interesting to see the Feds. argue in the SCOTUS that states should be sovereign, when it comes to debt, after decades of forcing state spending on them, by way of arguing that states had to pay for Fed. mandated programs, that were deemed Constitutional.