Illinois Will Be The Poster Case For State Bankruptcy

[Ad Orientem]

https://www.forbes.com/sites/ikebrannon ... c3af6d3550

[europeanwizard]

What's weird is that munis aren't unlike European state bonds. Just like an individual European country, an American state can't print themselves more money to get out of a high debt situation.

[I Shrugged]

Illinois keeps kicking the can down the road. I always figured they would get a federal bailout when it gets bad enough. But it's possible that the feds will resist because of moral hazard. HAHAHAHAHAHAHAHA!!!!!!

[Ad Orientem]

One of the many downsides to a Biden presidency is that they will very likely support a bailout. We need to hold the Senate.

[Xan]

One of the many downsides to a Biden presidency is that they will very likely support a bailout. We need to hold the Senate.

I can't see how bailing out states would be anything but an unmitigated disaster.