Tuesday, August 10, 2010

Dick Morris: Let states go bankrupt

As I mentioned in my earlier post, House Democrats may be on their way to rewarding spendthrift states such as Illinois, New York, and California--at the expense of responsible states such as Virginia and New Jersey, which elected fiscally conservative governors last fall.

Not only does political consultant Dick Morris oppose the proposed $26 billion bailout, but he feels the bankruptcy laws should change so states can declare bankruptcy--allowing them to emasculate overreaching public service unions.

Instapundit takes a look at one reckless spender--Illinois, which has suffered under one-party rule, Democratic rule, since 2003. Hey, wasn't Barack Obama a state senator here from 2003 to 2005?

UPDATE 7:00pm CDT: The bailout passed. Bad for America.

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