[–] [deleted] 0 points 2 points (+2|-0) ago 

[Deleted]

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[–] SirDigbyChikenCaesar 0 points 2 points (+2|-0) ago 

And a bailout from the Feds.

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[–] BTCKek__cheef_jnkbx 0 points 1 point (+1|-0) ago 

tthey are waiting for you in the elevator

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[–] R34p_Th3_Wh0r1w1nd 0 points 2 points (+2|-0) ago 

Could be. But good luck getting it done. I doubt the cops will back you.

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[–] Wargasm [S] 0 points 1 point (+1|-0) ago 

That'd be rich.

"You can either help me take the desks from the court house,

or I'll pull the truck around to the police station and help myself to some computers.

Your call chief."

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[–] KikeFree 0 points 3 points (+3|-0) ago 

Their armory will have more valuable stuff in it.

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[–] 10514701? 0 points 2 points (+2|-0) ago 

No... their taxes just go up.

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[–] dan_k 0 points 1 point (+1|-0) ago 

Along with the fee's and fines.

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[–] Orangishlemon 1 point 1 point (+2|-1) ago 

In California we just call it business as usual.

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[–] Kromulent 0 points 5 points (+5|-0) ago  (edited ago)

It's complicated, and some of it is legally unknown; the various laws that apply are not consistent and many have never really been tested.

As a practical matter, the existing debts may never be collected, but the much bigger problem is that nobody is going to load additional money to the state once that happens. At that point it's a choice between an endless bailout (and the associated moral hazard) or an actual fiscal collapse, which is really ugly and which does far more harm to innocent people than the unpaid debts themselves.

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[–] Sullysq 0 points 3 points (+3|-0) ago 

Ask Illinois. They spent their lottery pot and couldn't afford to pay out to winners. Still can't, but they still sell tickets and keep spending the money anyway.

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[–] Cadster 0 points 1 point (+1|-0) ago  (edited ago)

nope.

they will just issue bonds for some big bank to gobble up at around 20 cent on the dollar. the bank then later writes off at 100% (dollar for dollar)

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