Government Bankruptcy Is a Great Idea


LewRockwell
Lew Rockwell.com
January 21, 2011

State governments, like municipal governments, should go bankrupt rather than raise taxes on their victims. In fact, as part of bankruptcy, taxes should be drastically lowered, bonds repudiated, pensions abolished, and employees fired. A great start towards solvency and decency. Remember, the money for all these “services” is extracted through violence and the threat of violence. But there is talk of constitutional problems of state bankruptcy in federal bankruptcy courts, because of states rights, so there should be a federal agency to supervise it! Oh brother. In fact, states can do it on their own and ignore the feds, using their own courts. Come on, California, get the ball rolling. Jerry Brown, unlike the awful Arnold, be a hero.


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