Cities, Counties, States Could Declare “Bankruptcy”

Resulting from the Globalist PLANdemic. 
Keep in mind as you read this PLAN 
we have included 
the Global Bankruptcy PLAN in video format below . . .
We are watching a well planned epic heist 
by those in CONtrol of ALL of US
States struggling with high public employee pension costs amid the burdens of the pandemic response, to declare bankruptcy rather than giving them a federal bailout.

Pension funds have been gutted and many pension funds are NOT available. Bankruptcy due to Covid is a “perfect” scheme to wipe out employees funds that were stolen.

Opposes Bailout of State Pensions in favor of allowing states to use the bankruptcy route.
Without cash to states, Murphy said, governors will be forced to “gut the living daylights out of every state of America,” slashing budgets and eliminating the services people need.

Not going to be any desire to bail out state pensions by borrowing money from future generations. There is NO money left for current generations.

New York Governor Andrew Cuomo says states will need assistance. “And I think most Republicans agree too, and Democrats,” Trump said.

“And that’s part of phase four.”

McConnell said that any state or local aid must be specifically linked to the pandemic and shouldn’t be viewed as an opportunity for “revenue replacement.”

“We’re not interested in solving their pension problems for them,” McConnell said. “We’re not interested in rescuing them from bad decisions they’ve made in the past. We’re not going to let them take advantage of this pandemic to solve a lot of problems that they created for themselves with bad decisions in the past.”

The Bankruptcy idea has fans, including David Skeel, a professor at the University of Pennsylvania’s Carey Law School and a member of Puerto Rico’s financial oversight board.

“That’s amazing,” Skeel said about McConnell’s comments on possible bankruptcy for states. “This is a pretty strong signal that bankruptcy for states ought to be part of the policy debate.”

Skeel said bankruptcy “provides a way to distribute the sacrifice so that it’s shared by all constituencies.”

No state has defaulted on its debts since the Great Depression, and even after the last recession, only a handful of cities went bankrupt because

governments have broad ability to raise taxes.


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