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US states can't declare bankruptcy which seems the closest analog to what PR is
by oh_sigh 7y ago
US states can't declare bankruptcy which seems the closest analog to what PR is
- occamrazor 7y agoHowever aren’t US states also obliged to run a balanced budget?
- oh_sigh 7y agoOkay, so PR isn't obliged to run a balanced budget, and they sold bonds that were beyond their ability to repay, and so the people asking for the bonds to be repaid are the bad guys here?