State Bankruptcies Should Cause Concern for All Americans

Aside from the issues of a potential violation of the Constitution, the costs, and the effect on the state's municipal bonds, and the question of who in a state could declare bankruptcy for the state, a state filing for bankruptcy should raise concerns for every American. Over a trillion dollars...

State of Bankruptcy

We now know, after the re-election of Governor Perry, that Texas has a budget deficit of an estimated 27 billion dollars and we are now in the same boat as is New York, California and New Jersey. Because of this state level economic disaster, as opposed to the national level economic disaster, some...