[Wally_Kalbacken]

Note to those non-lawyers in the audience:

As presently constituted the Bankruptcy Code only allows Chapter 9 for debtors that are municipalities (i.e. agencies or sub-units of the state), but not states themselves. Depending on how these obliterations are carried (i.e., as that of the State of Illinois or that of the State of Illinois Pension Agency - which might qualify for Chapter 9) there is either a solution in bankruptcy or no solution.

For the heavily Democrat states, you should expect Obama to attempt a convoluted federal bailout.

This should be another winning issue for the GOP in 2016.

[mythenjoseph]

Why would you want the GOP to ?....they have passed everything a conservative loathes...F K the GOP!...Cruz/Walker/Trump (if he goes the distance)....everyone else is a traitor and enemy to our republic.

[Chgogal]

Thinking of heading down to Florida soon to join my sister's family. They reside in Fort Lauderdale. Which city/county is financially most secure in your neck of the woods?

Right now my situation in Chicago is quite comfortable. But that will change soon.