GOP Leader: No Bailout for states

Discussion in 'Politics' started by Political Junky, Jan 24, 2011.

  1. Political Junky
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    Political Junky Gold Member

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    The Associated Press: House GOP leader says no federal bailout of states

    WASHINGTON (AP) — A top House Republican said Monday that the federal government will not bail out fiscally ailing states and said he opposes a proposal that Congress allow states to declare bankruptcy as a way of handling their growing piles of debt.
    Though there has been little discussion of Washington bailing out states, some congressional Republicans and conservative groups are suggesting that states be allowed to seek protection in federal bankruptcy court, which they are currently barred from doing. Public employee unions, liberal groups and some lawmakers of both parties oppose the bankruptcy idea.
    House Majority Leader Eric Cantor, R-Va., told reporters Monday that he believes states already have the tools they need to ease crushing budget deficits since they can cut spending, raise taxes and pressure public employee unions to renegotiate their contracts and pension benefits. As a result, he said, he opposes letting states declare bankruptcy because he said they don't need that power.
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  2. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Somewhere Grover Norquist is grinning ear to ear.
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    They already got bailed out in the 2009 "stimulus" bait-and-switch.

    Of course, the states could always turn around and demand that the feds fully fund their asinine handout programs (i.e. Medicare/Medicaid).

    Personally, I suggest, to all of y'all who haven't, to start buying gold, silver and ammo, while you still can.
     
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  4. Oddball
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    Oddball BANNED Supporting Member

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    More like Frances Fox Piven.
     
  5. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    So expecting states to actually address their problems rather thank kick the can down the road is somehow a bad thing?
     
  6. waltky
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    waltky Wise ol' monkey Supporting Member

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    California not the only state with debt problems...
    :confused:
    The States Most Burdened by Debt
    March 04, 2011 - States with the Most Debt Per Person
     
  7. JWBooth
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    JWBooth Gold Member

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    Good
    I hope they hold to it.
     
  8. Trajan
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    Trajan conscientia mille testes

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    the coffers are drained, the cupboard is empty...the great progressive experiment has run out of Ducats to tax or steal.....and allocate.


    And travellers, now, within that valley,
    Through the red-litten windows see
    Vast forms, that move fantastically
    To a discordant melody,
    While, like a ghastly rapid river,
    Through the pale door
    A hideous throng rush out forever
    And laugh&#8212;but smile no more.
     
  9. JWBooth
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    JWBooth Gold Member

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    And damn few will admit that they are still fooled into believing those Ducats are anything more than wooden nickles.
     
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  10. Polk
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    Polk Classic

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    :lol:
     

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