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US states are sovereigns and so they can't literally go bankrupt. But they can become insolvent and cease paying on their obligations. Based on current credit r
by nradov 1y ago
US states are sovereigns and so they can't literally go bankrupt. But they can become insolvent and cease paying on their obligations. Based on current credit ratings, if any state is going to become insolvent it's more likely to be Illinois than California.
- immibis 1y agoThat's a semantic game playing on the exact legal definition of "bankrupt". You know what they meant: a US state can run out of money.