[MD] US democracy at work?

[David Thomas]

On 2/27/11 11:22 AM, "Dan Glover" <daneglover at gmail.com> wrote:

> But... something
> has to be done, otherwise more that a few states are facing
> bankruptcy. In fact, there are already studies being done on how such
> a fiasco will affect the economies of those states. Arkansas is a
> prime example. Decades after facing bankruptcy the state is still
> recovering.

Having lived in Arkansas for over 40 years I can say that facing the
potential of bankruptcy many years ago was a good thing. It forced the
passage of a mandatory balanced budget amendment and general reserve fund.
So in this recent downturn the state is one of the few that is not running a
deficient. On the other hand roads and infrastructure expansion and repair
is slow and thus the overall quality is pretty poor. Yous gets, what yous
pay for, if your lucky.

Here is an interesting discussion:
http://www.thedeal.com/magazine/ID/038443/2011/the-world-wonders-can-states-
go-bankrupt.php

Dave