by Russell Longcore
We all know that Washington’s government is broke. But nearly every colony/state of the Union is also in desperate financial trouble. They have nearly all spent profligately. But their underfunded pension obligations are going to sink them aside from too much spending. And Federal law doesn’t permit colony/states to declare bankruptcy.
I just want to point out that if a colony/state seceded from the Union to become a nation once again, it would likely shed enough Federal debt and Federally-mandated spending that it could balance its budget once again. And now the new nation would not be subject to Federal bankruptcy laws. That doesn’t mean it should stiff its creditors, but it could facilitate restructuring and payment of its obligations.
Also remember the old saying…”The thinking that got us here will not get us where we want to go.” There will need to be an entirely new group of leaders who move away from the republic to secession and new nationhood.
The Daily Beast has an article about colony/state bankruptcy that you should read.
Secession is the Hope For Mankind. Who will be first?
DumpDC. Six Letters That Can Change History.
© Copyright 2011, Russell D. Longcore. Permission to reprint in whole or in part is gladly granted, provided full credit is given.