"Barack," "Barack"
Posted on 01/15/2013 4:44:41 AM PST by IbJensen
“But we aren’t talking about a bankruptcy here.”
Maybe we SHOULD. Then all bets are off. Creditors would be paid and gov could reorganize, deunionize and oh, boy. Dead weight could be eliminated, agencies and departments closed, redundancy eliminated, payscales lowered, etc., etc., etc. Gov office buildings could be sold. Confiscated fed lands could be returned to the states. The possibilities are endless.
What budget?
"Barack," "Barack"
Maybe we SHOULD.
Perhaps you are on to something. Politically and strategically, the debt ceiling government shutdown gambit planned by the GOP Congressional caucus will be a disaster of epic proportions. But, if it triggers an actual monetary bond default it may have a silver lining: giving Treasury note and bondholders standing to petition the courts to force a debtor reoganization. If the federal government won’t voluntarily live within its means, perhaps a court to compel it to.
I imagine that courts don’t have that power, unfortunately. But one can dream.
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