Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Would government bankruptcy be better than current trend? - of government spending, inflating and taxing US citizens into poverty. Bankruptcy court allows a judge to prioritize amongst debts and obligations. A judge would eliminate subsidies, order the sale of assetts and prioritize spending.
So we'd end up with?
- government not allowed to subsidize
- spending only on essential services
- Government owned property sold to productive users. Even if owned by foreign held corporations, a least resources would be extracted and people employed.
- sure, the disruption would be cataclysmic and deadly, but the government would be trimmed back to a reasonably functional level.
California might soon provide an example - should they be bailed out, or would it be better for taxpaying citizens if a bankruptcy judge prioritized their spending. Not that I trust judges (likely liberal), but at least they'd prioritize spending -
