When Illinois and California file bankruptcy...which they inevitably will. The wreckage of unbridled liberalism will be there for all to see. They’re betting on the to big to fail strategy that the feds will bail them out. You can see Governor Quinn starting to lean that way now by asking the feds to back Illinois pensions. I don’t think the feds even Obama have the political or practical currency to help. Illinois and California are dead man walking the math is inevitable and the media just doesn’t believe it. Yet.
You are right. However, it will not matter as the media shall “explain” the bankruptcy and teach the people now that our old debts are gone we can SPEND!