Meanwhile the bankruptcy of the United States of America, Inc. has finally been ended. The old “Federal Reserve System” is no more, but a new version of “FEDERAL RESERVE” has been organized under UNITED NATIONS auspices and has tried to mount a new round of the same old game in . Oct 05, · The Delegated Powers merely "assumed" by the Scottish Interloper doing business as "The United States of America, Inc." returned to us again in , when that entity declared bankruptcy. Again, we were not informed by our Trustees. Apr 22, · The last time America’s states were in the throes of a crippling fiscal crisis, an idea was floated in Washington to help them swiftly bring it to an end: let them file for bankruptcy and escape.
But McConnell does not advocate state bankruptcy in order to subject state bondholders to hardship. Obviously not! When McConnell spoke to Hewitt about fiscally troubled states, he did not address their bond debt. He addressed their pension debt. State bankruptcy is a project to shift hardship onto pensioners while protecting bondholders—and, even more than bondholders, taxpayers.
Republican plans for state bankruptcy sedulously protect state taxpayers. The Bush-Gingrich op-ed of was explicit on this point. You might wonder: Why? If a Republican Senate majority leader from Kentucky is willing to squeeze Illinois state pensioners, why would he care about shielding Illinois state taxpayers? The answer is found in the third of the three facts of American fiscal federalism. United States senators from smaller, poorer red states do not only represent their states.
Often, they do not even primarily represent their states. They represent, more often, the richest people in bigger, richer blue States who find it more economical to invest in less expensive small-state races.
The second is a conduit for funds from real-estate investors. The third is the tobacco company Altria. The fourth is the parcel delivery service UPS. The fifth is the Eli Lilly pharmaceutical corporation. The sixth is the home health-care company, LHC Group. The seventh is the Blackstone hedge fund. And so on and on. A federal bankruptcy process for state finances could thus enable wealthy individuals and interest groups in rich states to leverage their clout in the anti-majoritarian federal system to reverse political defeats in the more majoritarian political systems of big, rich states like California, New York, and Illinois.
No question, many states face serious problems with their unfunded liabilities to state retirees. They need to be addressed, and addressing them will be a tough policy challenge. It will be a tough legal challenge, too, since those liabilities are often—as in Illinois—inscribed into the state's constitution. Difficult and important as these problems are, they are not urgent problems. They existed 24 months ago; they will remain 24 months from now.
From a strictly economic point of view, McConnell's schemes for state bankruptcy are utterly irrelevant to the present crisis. Reducing future pension liabilities will not replenish lost revenues or reduce suddenly crushing social-welfare burdens. We want to hear what you think about this article.
Submit a letter to the editor or write to letters theatlantic. Skip to content. Sign in My Account Subscribe. The Atlantic Crossword. The Print Edition. Latest Issue Past Issues. Link Copied. In and , he was a speechwriter for President George W. Connect Twitter. But to answer the basic headline question, we are not seeing the end of the United States of America as a mostly unified nation-state. Even though we may be seeing the end of much more liberty than we could have conceived of three months ago.
Like Like. Are you really surprised that none of the politicians or doctors or professional scaremongers would mention essentials like that? The Gov Cooper of North Carolina has closed all eating places, closed all businesses, only food stores and Drug stores and gas places are allowed to be opened. All of this was done illegally. He had NO authority to do it.
BUT the Sheeple went along. This has happened in at least 20, if not 30 states, with some of the earliest being Colorado and California. Yet is not this less of a threat to liberty than closing borders and hunting down citizens of other states. A few jurisdictions have done this lockdown by legal, legislative and executive action. But many have just let people like Cooper assume dictatorial powers on their own.
Another important point is, bad as the Beer Flu is, does it warrant such arbitrary action? Or is it just an excuse for taking power? You are commenting using your WordPress. You are commenting using your Google account. You are commenting using your Twitter account. You are commenting using your Facebook account.
Notify me of new comments via email. Notify me of new posts via email. The Price of Liberty. Skip to content. About Contact By what legitimate authority? Over the weekend, the panic over the novel coronavirus has continued to ramp up.
Here is a list of those claimed to be doing so: California — rumor? The San Francisco Chronicle claims it cannot, but… Texas has required that people entering Texas from certain states must be in quarantine Florida has also required that people entering Florida from a small but growing list of states must be in quarantine or return to their point of origin Alaska is prohibiting travel from the Lower 48 Hawaii is prohibiting travel from the other 49 Rhode Island is conducting house-to-house searches to find and deport New Yorkers, is pulling over vehicles with NY plates and apparently turning them back , and has National Guard troops manning checkpoints at railroad stations.
The Rosebud declaration includes all of the old reservation in five counties, not just the current one-county reservation. Various Pueblos in New Mexico have banned travel into their lands, at least travel not on state highways. This triggers a number of thoughts. None of these actions are being taken by the respective legislatures of the States, as far as I can tell.
Rather, they are the actions of governors as dictators or tyrants — for the good of the people, of course. The Vox article suggests — even argues — that these actions are destroying the American Union, and that after the coronavirus scare will come more and more reasons — citing the fracturing of the EU and reestablishing national border controls there. The growing political fractures in the Fifty States visible and expanded by the election, coupled with the serious economic blows from the Beer Flu Panic add to the medical fears and fears of death.
Federalizing National Guard units currently in three states , letting the FedGov foot the bill while the states theoretically continue to command the troops sets a dangerous precedent for future conflicts within the Fifty States, as well as for future disasters.
Based on the present and growing hysteria over the still-few serious illnesses and deaths at least outside New York City, New York, and New Orleans , more irrational actions can be expected from politicians, business managers, and individuals across the nation.