◼ Bankruptcy, Don’t Go There - CA - The Flash Report
Bankruptcy is not the pot of gold at the end of the rainbow. But to read some of the advocacy in behalf of allowing states to go bankrupt you might think so. Want to break a labor contract why then go bankrupt. Want to reduce pension benefits why then go bankrupt....
For those who honor the federal Constitution there is a big reason that states do not file for bankruptcy. They are sovereign entities who cannot cede their sovereignty to the Federal government. It is disappointing to hear so many conservatives ignoring the consequences of a state submitting its powers to a federal judge. If states are admitted under federal bankruptcy laws then America becomes a united state and no longer is the United States. ...
