State Bankruptcy Quotes

Establish that a Government may decline a provision for its debts, though able to make it, and you overthrow all public morality, you unhinge all the principles that must preserve the limits of free constitutions.

Socialism is the gradual and less violent form of communism, and socialist is the project of the European Union, which was born in Maastricht in 1992. The intent was to save socialism in Europe after the fall of the Berlin Wall and the predictable bankruptcy of the welfare state in the West as well.

State constitutions typically provide that the state first has to service its debt, then make it pension payments, and then pay for services. What we don't know is whether that order will be enforced. And ultimately, the busted state is going to be looking to the federal government for a bailout. Think Greece, but on a much bigger scale.

The printing presses of the state treasuries cranked out reams of paper currency- showing wise kinds and blissful martyrs- while bankers wept and peasants starved.

If you have 'too big to fail' for cities or for states, and they believe they'll be bailed out, they'll continue to make unwise decisions.

Every sensible banker understands that Greece should not have received any more money: a bankrupt state that can never be expected to repay loans is not a good debtor.

When we finally have this recall election in October, there could be as many as 200 people on the ballot. And you know what's really scary? Most of them don't know the first thing about driving a state into bankruptcy. They're not experts like Governor Gray Davis.

You can look at the state of California, which is on a pathway to destruction because they expanded government too much, thinking that there would always be someone to pay for it.

Once a fellow's enjoying the fruits of government health care and all the rest, he couldn't give a hoot about the general societal interest; he's got his, and if it's going to bankrupt the state a generation hence, well, as long as they can keep the checks coming till he's dead, it's fine by him.

The state is a bankrupt institution. The only alternative to this bankrupt 'humanistic' system is a God-centered government.

California is going to take themselves off the cliff culturally and economically, fiscally. They are going to be at the trough in Washington wanting a bailout.

The welfare state is predicate don collecting money from today's workers in order to pay for those who paid in before them. But today's workers don't have enough money to sustain the scheme, and there are too few of them to do so. As a result, virtually every welfare state in Europe, and many American states, like California are going broke.

The entitlement state has driven us into insolvency.

If 'Obama-care' becomes fully implemented in 2014, it's going to bankrupt states.

Welfare culture is bad not just because, as in Europe, it's bankrupting the state, but because it enfeebles the citizenry, it erodes self-reliance and resourcefulness.

There's a rumour going around that states cannot go bankrupt. This rumour is not true.