Senate Leader McConnell - States Should Declare Bankruptcy - Don't Ask U.S. Taxpayers to Save You.

Wednesday, April 22, 2020

As we know, most of the states that over-reacted to the Covid-19 virus by almost totally shutting down, also were in the worst financial shape.

Now, the (mostly) Liberal Governors of those poorly run states are asking for massive bail-outs from the Federal Government.

U.S. Senate Majority Leader Mitch McConnell is pretty much telling them to fix the financial mess they themselves created.

Today, McConnell announced that he is open to allowing states to declare bankruptcy rather than sending additional federal money to governors who have been imploring Washington for urgent fiscal help.

"We are not interested in revenue replacement for state governments," McConnell said.

"We're interested in trying to help them with anything related to the coronavirus ... [but] we are not interested in solving their pension problems and all these other things that they would like for us to finance."

Much More at: www.foxnews.com...

The usual liberal governors and big-city mayors, have been appearing on TV/Radio News for the last 2 weeks, complaining about how Covid-19 is causing them to go broke.

New York City Mayor Bill DeBlasio says, if American Taxpayers don't bail out New York City with $7.5 Billion ASAP, America is SCREWED.

ATS Thread on the Subject: www.abovetopsecret.com...

Illinois Governor J.B. Pritzker says due to him shutting down the state, revenues are down 67%...He wants $30 Billion for replacing that revenue and an additional $10 Billion to shore up the severely mismanaged Illinois public-employee pension fund.

Well...since only 0.03% of Americans have been killed by Covid-19 and Flu combined this year, I say these governors should pay the price for their over-the-top, foolish, unwise, irrational over-reaction, to this relatively minor CoronaVirus-19 epidemic.

IMO, denying these states a financial reward, will cause the Liberal/Democratic Governors to re-open relatively quickly, don't cha think?

-CareWeMust

a reply to: carewemust

Why should the tax payer bail out the already failing states????

originally posted by: macman
a reply to: carewemust

Why should the tax payer bail out the already failing states????

We shouldn't. I don't care if they're red or blue states, if they bungled their own books, the federal government doesn't need to help them. It's not like the federal government is doing any better anyway.

originally posted by: macman
a reply to: carewemust

Why should the tax payer bail out the already failing states????

Like Senator McConnell said, some governors want to take advantage of the manufactured Covid-19 crisis, to fix past problems with corruption, waste, etc.. A few Billion $$$ might help for a little while, but as long as the same irresponsible people remain in charge, the insanity will never end.

originally posted by: face23785

originally posted by: macman
a reply to: carewemust

Why should the tax payer bail out the already failing states????

We shouldn't. I don't care if they're red or blue states, if they bungled their own books, the federal government doesn't need to help them. It's not like the federal government is doing any better anyway.

Right. After all, the Federal Government didn't ask states to shut down their revenue streams. Each state made that decision on their own.

a reply to: carewemust

"F### 'em."
-DBCowboy

Illinois was broke even before COVID-19 hit. I think their credit rating was actually in junk territory.

If Congress can pass a law allowing Puerto Rico to declare bankruptcy, then they can do the same to allow states to get their houses in order.

IDK, but I was watching the "John Adams" series on HBO. According to that mini series, for whatever historical reference that's worth, the Untied States Treasury was created in order to gain global credit. It absorbed the 13 Colonies/States debts to establish credit.

A precedent has been set. The US dollar can't succeed in a global community if a majority of its states are failing financially.

originally posted by: DBCowboy
a reply to: carewemust

"F### 'em."
-DBCowboy

Watch how fast these governors start being REAL leaders, instead of whiners. But unfortunately, the citizens of those states, which includes mine, will pay a heavy price, in the form of TAX and FEE hikes.

originally posted by: AndyFromMichigan
Illinois was broke even before COVID-19 hit. I think their credit rating was actually in junk territory.

If Congress can pass a law allowing Puerto Rico to declare bankruptcy, then they can do the same to allow states to get their houses in order.

I didn't know Puerto Rico declared bankruptcy. Thanks for the info. Will go look that up right now.

Hey,...Looks like the Puerto Rico bankruptcy/reorganization is a SUCCESS!

Source: www.reuters.com...

a reply to: Sookiechacha

Most of the 57 states will not need to declare bankruptcy.

originally posted by: Sookiechacha
A precedent has been set. The US dollar can't succeed in a global community if a majority of its states are failing financially.

Sounds like a majority of states will need to learn how to budget, then. Prioritize a little better. Perhaps re-evaluate all those welfare handouts and negative ROI expenditures states like CA, MI, and Il are so infatuated with continuing... or jack the tax rates to the moon for their citizens. Of course there's an old saying that concerns that... "wish in one hand sh_t in the other and see which fills up first." I'm pretty sure the citizens on those states won't take kindly to the idea of yet higher taxation, so perhaps this is exactly the push their leaders need to actually lead instead of just buying their votes by pandering to the lowest common economic denominators in each state.

Almost every state was either in the red or close to it WAY BEFORE THIS EVENT. I would not give them a dime unless they were in the black before this situation. Screw them. They are totally grabbing for tax dollars to bail them out.

Defunct programs still running, homage to illegal aliens, oppressive unions, stupid projects like CA's bottomless pit money train. GO TO HELL. Don't give them anything. Let them reside in their own self dug grave and start taking some responsibility. Things costs money. Can't have stuff you can't afford just like me. Screw them.

a reply to: burdman30ott6

And don't go shutting down, just because the terrorist-owned Mainstream Media tells you to!

Look at the damn statistics like intelligent leaders do. i.e. Year 2020: 50,000 Covid-19 Deaths + 60,000 Flu Deaths, divided by 350,000,000 people in the USA = 3/100th of 1% fatality rate. (0.03%) which is VERY small.

a reply to: carewemust


That's OK , let them Declare Bankruptcy , then they Truly Are The Peoples Bitches with Conditions Voted on By the People of said State After that .... Accountability in Government . Only Fair , eh ?

a reply to: burdman30ott6

It sounds to me that you're of that mindset that government must fail before it can be rebuilt. The Tree of Liberty is thirsty!

Looks like we have a sh**y stand off.

States holding what we have left of a financial reputation hostage for money.

Or we set another precedence that will cost, I guess trillions at this point, because who cares, right?

Whats the worst that can happen?

a reply to: CriticalStinker


Hmm... The November Elections , if Allowed to be Held with Our MASTERS Consent should be Interesting.......

It’s kind of funny watching the government eat itself. Until realizing that you live in the country this is happening in.

originally posted by: Zanti Misfit
a reply to: CriticalStinker


Hmm... The November Elections , if Allowed to be Held with Our MASTERS Consent should be Interesting.......

Just more theater with the same ending IMO.

It might as well be predetermined... Either way it's a different path to the same result.