List of some other defaulting states besides CA

Discussion in 'Economics' started by peilthetraveler, Jul 1, 2009.

  1. Pennsylvania, Arizona, Indiana, Ohio, Connecticut and Mississippi.

    Did I miss any?

    I hear that after july 24, all state workers in Pennsylvania stop getting paid completely (and they are only getting partial pay for this month) But dont worry...the banks are willing to loan the workers money at low or no interest loans.

    A conspiracy nut might think that people are being set up for slavery in the New World Order by the banks forcing people to take on debt like this. But i dont think that...yet.

    But I really gotta wonder. If banks are starting to pay the people for the work they do for the state...who is really the employer? The state or the bank? And if the state goes bankrupt and just doesnt pay and the banks own the people who are in debt....well...you can see how bad it looks. So it equals 1 of 2 things in that situation. More financial meltdown or slaves to the bank. Either way, its bad for all of us.
     
  2. england hee hee
     
  3. It's not Slavery.


    It's called Indentured Servitude.
     
  4. Opps...my mistake. I wonder if they will build debtors prisons later on then.
     
  5. I'm having trouble determining who is who among these two entities.
     
  6. No problemo ByLoSellHi...

    State plus Bank... = STANK..

    Hope we cleared that up... :D
     
  7. Doesn't Illinois have an $11 Billion budget gap?
     
  8. CET

    CET

    You clearly don't know the difference between a default and a budget gap. Most of those states are still arguing over budget maneuvers. Cali could fix their own problems but refuse to make the hard decisions. Let them crater.
     
  9. very funny and quick and also very true. the stank's are the future in england we call them pfi (private funding initiatives).
     
  10. Exactly right!

    The problems they have currently will be there again next year and the next.

    Other than the Feds paying the shortfall, CA's only choices are (1) eliminate certain programs/payments, (2) eliminate certain jobs, and/or (3) make reduced payments, salaries, benefits to many (everybody?)... and of course (4) raise taxes... until "income = outgo".
     
    #10     Jul 1, 2009