46 of 50 states could file bankruptcy in 2009-2010

This I know will get me a lot of flack from eveyone but these are the facts

North Dakota...94% White 5 % American Indian

Montana...... 92% White 7% American Indian

Wyoming.......96% White 3% American Indian

West Virginia....96% White 1% American Indian

Another fact is they are red states that dont take kindly to tree huggers. they use their natural raw materials to make money. North Dakota has a 300 million dollar surplus. I know I have property there. I keep up with their politics.

This is what happens when a Powerful Nation over extends themselves and what to try to conquer and help every nation around the world, the Military should be cut before any School or State Sponsored Program, especially educational programs, which teach the future generations. Thanks to American Greed and Need for Power, they have corrupted this whole planet. America deserves what’s coming to them, this was caused by the its’ own history, greed, lust, and want for everything that they could get their hands on. If they continue wasting countless billions of dollars on wars daily, America will be Bankrupt by the end of the year LOL.

How does an entire state declare bankruptcy?

This is nuts! First the bank (who we expect to always have money) n then the entire state declares bankruptcy?

There has to be something so completely wrong with the way leaders are budgeting or something! I don't know how America runs, or how it managed to run out of money IN EVERY SECTOR, but this is insanity!

Freedom!

Reading this article,I know how much The Fed is, a scam intended to Sabotage our country by draining away its wealth, substituting collosal debt instead to make us enslaved to foreign interests. Our founding fathers were dead set against the creation of a central bank. They felt it would be misused as too easily a target for foreign takeover of our financial system. In 1907, we still had the best, most soundest money value in the world. In 1913, the Federal Reserve Act was passed as an antiConstitutional statute puttting a private foreign banking cartel in charge of our Treasury like a fox guarding the henhouse. After the Piracy resulting in the late 20s stock market crash and disappearance of 40 % of our Gold supply, which caused the Great Depression...by 1933. only 20 years later the Gold Standard disappeared. It's been mentioned by some of our commentators that America then became more of a company than a Country; with all the foreign interference that coup sacrificed our Soverignty.Fast forward to 1963. Along comes a true American Hero, John F Kennedy. Seeing that our Country is being subverted by this antiConstutional parasite called the Fed which loans us our own money with their name on it while putting us in collosal debt we can't hope to ever manage, JFK in the Spring of 1963 issues Executive Order 11100, again ordering the Treasury to mint Silver coins and issue U.S. Silver Certificates. In the Autumn of 63, JFK is Murdered. Then the Silver Coinage Act is passed,countermanding his Executive Order and phasing out Silver Coins by 1969. Have any of you seen someone with nothing to do, whittle down a stick until there's nothing left ? A stick is made of wood as paper is. The Fed's legacy is our "secret" $64-$72 "Trillion National Debt. That's 6 years worth of GDP. Its expected that the demise of the American dollar will be imminent. We should face facts. The Fed is a huge monkey on the back of America. They siphon off over $1 Trillion dollars every year from us while burying us in unmanageable debt after loaning us our own money with their foreig(antiConstitutional) name on it. They are klilling us.Yet our Government has gotten so used to them they accept those Saboteurs. When you hear that Ron Paul would end the Fed and others, like JFK ,advocate to put them under the control of the Treasury at least, short of repealing the Federal Reserve Act, you don't have to wonder why the States themselves are on the verge of Bankruptcy. Without sound money,(a money for value, not debt, financial system) our way of life is doomed. We'll have to create $72 Trillion worth of new wealth in the GDP eventualy to eliminte the National Debt the Fed has saddled us with. It'll take a collosal amount of new green jobs created, new electric cars delivered to get those non producing people back to work, and people saving again. The only "reserving" the Fed does is to reserve all of our wealth for themselves, and the nations who finance our debt like China. You may not believe in the Gold Standard, but THEY sure do. They own more Gold than any other nation on this earth. So unless you'd enjoy learning how to speak Chinese later on in this century, perhaps you might want to read the words of Thomas Jefferson on how a central bank is more dangerous than invasion by a foreign army, and how printing "money" and not not coining it will make Americans enslaved orphans in the country their forefathers fought to preserve for them. Coining precious metals into money makes people prudent spenders who save.Coining cheap metal makes people reckless spenders going into debt.In Jefferson's time they were a lot closer to the debtor's prisons of old England.The Bankruptcy Act wasn't passed until 1898. Jefferson died a pauper after freeing his slaves.Because that's the legacy of debt. It makes people indentured servants enslaved to others.

You guys are aware that this is a hokey post right? Freedom Arizona Word Press is basically a fancy form of Blogspot or Wikipedia. 46 of 50 states will not declare that they are bankrupt. States, like the federal government, are able to run deficits and many routinely do. Please, please, please do not post unsubstantiated, poorly researched conjecture.

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Pareo Nullus

Moving to Finland....

this is really scary.

i don't know ... i kinda call BS on this one ... just because the one state whose finances i am most familiar with, texas is one to supposedly bankrupt. but, texas has always had a very stable state budget with lots of tax base and budget reserve, so i find it hard to believe they would be one of those bankrupt in 09-10.

Well I guess this blows the plan to allow states to set their own GHG emissions.

Im not saying that I agree 100% with all of the budgetary choices our leaders have made, I have to take into consideration that the Oregon budget for this year was written in 2007, when things looked significantly different than they do now.
Having said that, considering that our state does not employ an income tax we seem to be doing better than many other states. We have a statewide healthcare program for all children, some of the best grants available to postsecondary students, and a solid committment to renewable energy/energy efficiency that is really unrivaled anywhere in the country. With our shortfall we're not cutting school programs or our investments in services for the needy, but we are putting on hold some of the innovation we're so well-known for, and in this I'm satisfied that my state government is doing all they can to weather the storm.
We also didn't get too caught up in the housing crisis, even though we were slightly impacted. Perhaps people are just smarter about the whole "sub-prime loan" ideology here... ^_^

Legalize cannabis, allowing individual states to collect the majority of the taxes, and see if we still have this problem.

WV thanks Senator Byrd for their solvency, Yep, Mr. Porkbarrel. WV has alot of beautiful rarely traveled highways. He's w(p)orked reeaal hard for his state to get LOTS & LOTS of government money. Maybe at detriment to other states. WV, she looks sooo lonely surrounded by all the more populated, needs more infrastructure states. Oh, wait maybe the governments of those other states kept the money for themselves? hmmm.. that's always possible! In fact PA's largest employer is the state government.....

Trust me, no state will go bankrupt, they will simply keep cutting spending until they can balance the budget. The results will be ugly, but that's what they'll do.

and the south is still waiting for hurricane relief... *sigh*

won't be a federal priority with other, "more productive" states reporting such strife...

The WI budget got screwed up last year and already made things look dreary. It just goes to show that things aren't much better anywhere else you go.

END THE FED! END THE FED! END THE FED!!!

The only solution is Bankruptcy Reorganization. Bailouts are going to inflate the currency to the point of Weimer Germany, during the period of 1914-1923, but this time beyond! People then were shoveling wheel barrels of money, equivalent to millions of their currency, for just a loaf of bread because their currency hyperventilated due to the impositions made by the Versailles Treaty. By printing up more and more money, We are committed to such a course.
The Bad Bank Idea, is a BAD idea. What we are effectively doing is performing a transfusion of the toxic assets from Wall Street onto the American People. What that eventually will lead to are commitments the American Government can never pay! The CBO has an estimate for the total of the bad assets these banks carry, but it does not even scratch the surface for the total tally because these banks are not disclosing overseas holdings. The softcore estimate is in the Tens of Trillions. But the overall amount is in the Quadrillions! Every Major Bank in America is Bankrupt because these toxic assets sit on their books and it far outweighs the deposits these banks hold from me and you and all Americans.
What Bankruptcy allows is a separation of the good assets (your depsits, my deposits, grandma Millie's 401K and pensions etc.) from the bad deposits (the toxic gambling bets spilling over to the states because people losing their jobs and losing their homes takes revenue away from the states and so you get this spiral situation), and has to be done on the level of a national bank that consumes the Federal Reserve, and reinstitutes a NATIONAL Bank like what the 1st Treasury Secretary Alexander Hamilton did under George Washington, in order to protect the good investments, and trash all of the debt that was made via gambling, so we can then deal with the crisis of lending because the debt is through the roof. Bankruptcy of the states can be averted if their budgets, under this new recapitalized National Bank, can be given emergency infusions, to then allow the business to resume as normal on the ground level, in order to keep alive the tax streams that will allow them to pay it back.

For more reading, a highly controversial guy who ended up being right on so many levels who Forecasted this calamity, Way back in the Seventies, who is hated by many but respected by notables like Bill Clinton, Reagen (on the SDI) and Rosa Parks, Just to name a few, can be found at www.Larouchepac.com. HIGHLY CONTROVERSIAL BUT WHEN YOU END UP READING THE PROOFS THAT ARE SET DOWN IT OPENS NEW WAYS OF THINKING WE ARE'NT EXPOSED TO OFTEN THESE DAYS!

Notice West Virginia isn't in there. Thank you Darrel McGraw for not letting banks have sub prime mortgages in WV. At least we voted for competent people in the state races.

god bless the federal reserve.

This is what happens when government gets too big. It's too bad it's happening now, but it was inevitable.

government municipalities declaring chapter 9 bankruptcy(which is the bankruptcy code specifically for government operations) has happened before. Orange County went bankrupt in 1994. Apparently it is just a restructuring of debts, so the federal government would just do something along the lines of erase debt...which would undoubtedly screw over A LOT of employees of the state(s). Scary thinking 46 out of 50 would declare, the slashing of services and the tax quagmire that would probably result makes me worried about not only the future of the American citizen, but even the structure of the American federal system.

Will they get a discount if the state is only slightly used? Utah I'm looking at you.

When do the states go to the auction block? Will foriegn countries start buying them?

makes you wonder if these Governors, etc. are trying to say "show me the money! We want ours too!

I always assumed that governments could never go bankrupt but i guess i was wrong. So what happens are they liquidated? do they sell government builds at a discount? the whole thing is just fucking strange.