After years of wrangling with its creditors, Puerto Rico disclosed a plan Friday for resolving the biggest governmental bankruptcy in United States history, by cutting $129 billion in debts to about $86 billion — a reduction of 33 percent.
California, however, is not that simple. California will require a huge transfer from Texas to California, and that is not going to happen. The economists will point out the unpaid costs of Reagan's bailout of that Bush kid in the Texas S&L fiasco. At that point no one will want to pay another dime until the US defaults.
No comments:
Post a Comment