How Many Blue States Will go into Default/Bankruptcy This Fall?

[william the wie]

Just checked CA and IL munis. Still selling, still selling at a premium.

I wouldn't worry much.
.

That is because it is ILLEGAL for a state to file bankruptcy.

Actually that has changed. It is called Chapter three but there are a long list of restrictions.

 

[Manonthestreet]

The popular Powerball lottery and Mega Millions games will drop Illinois at the end of June without a budget agreement, Illinois Lottery officials said Thursday.

Concern over the state’s fiscal condition prompted the Multi-State Lottery Association to drop Powerball in Illinois, according to internal Illinois Lottery communications obtained by the Chicago Sun-Times. Powerball, Mega Millions to drop Illinois due to state's budget crisis

 

[danielpalos]

If we can raise four hundred billion in pot revenue, we can fund single payer health care.

Potheads, to the rescue!

 

[william the wie]

Within the US there will be contagion and much stricter covenants on bond issues.

 

[Manonthestreet]

5 billion in new taxes......they are saved !!!!!!!
Blog: Illinois Republicans sign on to $5 billion tax increase

 

[william the wie]

Tax flight race begin.

 

[debbiedowner]

OP who knows, but Kansas, Tn and Sc are close and btw aren't they red? Or will they just raise taxes because tax cuts don't work?

 

[Manonthestreet]

 

[bodecea]

CA and IL are already in default but the collapse of Ocare will cause more, mostly Blue, States to go into default and have to raise taxes to increase tax flight. How bad will this get?

Kansas.

 

[william the wie]

See the evidence given by MOTS in the post before yours. Not only Kansas is unlikely to go under. The below average energy states would be a surprise if they went down the toilet. KY, PA & WV are highly unlikely to go under because Trump is rolling back regulation on coal. Oil/NG states like NM and LA could go under but probably won't.

 

[Manonthestreet]

The data — obtained by the Tribune after months of negotiation with public officials — show that Chicago-area hospitals billed more than $447 million to treat some 12,000 documented victims of gun violence in the city between 2009 and mid-2016.

And even that figure represents just a fraction of the total billed. While the hospitals charge for room and board as well as equipment and drugs, the surgeons, anesthesiologists and other medical professionals who treat gunshot victims in emergency rooms across the city typically bill separately.

The data show that the victims who bear the physical and emotional scars of being shot live mostly in economically depressed and racially segregated neighborhoods. But the financial burden of caring for survivors of gunshot wounds extends well beyond neighborhood boundaries, according to the Tribune analysis.

In fact, patients who live in poverty and are insured through the publicly funded Medicaid and Medicare programs account for nearly half of the costs analyzed by the Tribune.


The bill for treating a gunshot wound: $21,000 for the first 35 minutes
And you havent even touched rehab costs.....