What Would It Mean If U.S. States Went Bankrupt?

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Published 2020-05-18

On April 21, Senator Mitch McConnell stated he was in favor of the idea of letting states declare bankruptcy. The statement was met with fierce backlash from several politicians and sparked media commentary. While states cannot currently legally file for bankruptcy, some in the legal and political world are supportive of the idea, as many states are suffering significantly due to the coronavirus pandemic. Allowing states to go bankrupt would be a complex process, and not at all an option without significant risk.

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What Would It Mean If U.S. States Went Bankrupt?

All Comments (21)

@panda59043 3 years ago

Let's open a lemonade stand to bail out the USA!
@ShaneoTheGreat 3 years ago

We are bankrupt. We just don't have debt collectors big enough to come after us
@suntan8655 4 years ago

It's been bankrupt for a long time, just that no one dares to call it.
@MightyRob1 4 years ago

4:37 - The ultimate "whatever" teenager rolling eyes and walking away while dad contemplates the financial collapse of the country.
@pppccc4919 4 years ago

Bailout of U.S people is not allowed, only rich people can be bailed out
@susanhainan188 4 years ago

Let’s make a gofundme page and buy a state that goes bankrupt and make it our own. Write your Ideas and thought down below
@robfrmny21 4 years ago

No income for 3 months the states now knows what the average person feels.
@supedersen 4 years ago

State bankruptcy: All state pensions gone and more...
@ajg8722 4 years ago

“By far Illinois, is in the worst shape.” Couldn’t agree more. But thanks for rubbing it in CNBC.
@ninjanerdstudent6937 4 years ago

Minimalists! This is your time to shine!
@celdur4635 3 years ago

Such a covid thing to have your daughter in the background of your living room doing random stuff and having a bored look on her face while in a call with a major organization, lol.
@mgg5577 4 years ago

Lesson learned: be prepared and save money!
@LinoxPLAY 4 years ago

I DECLARE BANKRUPTCYYY! -Michael Scott
@firulamry 4 years ago

Dude, we live in a strange timeline, would not surprise if US can actually goes bankrupt
@lukesmith3283 4 years ago

I would like to see which states really need a bailout and the reasons WHY they need a bailout. If they need it because of poor spending from years and decades past, then no bailout. Learn to run you state with better fiscal responsibility!
@elvirareis9634 4 years ago

YOU KNOW THE STIMULUS THAT WAS GIVEN TO US NOT ONLY WAS A BLESSING TO US. IT HELPED OUR BUSINESSES SURVIVE "MONEY WAS BEING CIRCULATED"!!!
@flawlessbutdysfunctional7787 4 years ago

Someone threw cash at McConnell and yelled “thanks for bailing out corporations” 11 years ago we should do it again
@nczioox1116 4 years ago

Politics aside, this video is very well researched and put together.
@user-kc9mz8bu8y 4 years ago

I don't think the United States can go bankrupt ,but it will be the wisest decision to invest heavily on this current pandemic legacy. And l no if you start up an investment today it will yeild you a good ROI ........
@botoyo7374 4 years ago

Reduce the salaries of all politicians. Fire the doctor who acted like Howard Hughes who died earlier than most anyway.