State Politicians in charge of Bankrupt States Should be Held Accountable

How could a state in the good ol' US of A go bankrupt. How much fiscal irresponsbility has been going on here?

Story #7: New Times Wants Bailouts for Bankrupt States

RUSH: From a suddenly concerned New York Times, headline: "A Path Is Sought for States to Escape Their Debt Burdens." Hmm. What would that be? What would a path be for the states to escape debt burdens? "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." Put Jeffrey Immelt in charge here. Let's get a czar here to handle it. Who cares about the Constitution? What does it matter, bothersome Constitution.

Notice here that state sovereignty is only being brought up now, not when they're having new mandates heaped upon them by federal laws like Obamacare. All of the sudden state sovereignty matters when it comes to bankruptcy, state sovereignty doesn't matter when it comes to forcing the states to take over health care expenses to make Obama look good? You read the whole story -- I'm gonna give you the synopsis -- but you read this whole New York Times story, the Times wants the states to get the same treatment that General Motors and Chrysler got: bailouts. Which would seem to mean that the states are gonna end up being owned by the public sector unions just like the UAW owns General Motors and Chrysler, which is not that hard to believe, given where we are.

In this story -- by the way, I should tell you this -- in this story about the states considering bankruptcy, the Times does not say anything about how Obama is gonna saddle the states with huge costs they simply can't afford, via Obamacare. That's yet to come. That's one of those things lurking out there between now and 2014. They're not in any financial -- well, they don't even know what financial trouble is until that happens to them. That's why 26, 27 of them are suing Obamacare, suing the federal government over this. But now all of a sudden when it comes to bankruptcy filings, the sovereignty of the states is a concern but not when it comes to being forced by the federal government to assume all these Medicare and Medicaid expenses.