nostr:npub1h4lrzqnrne72xj00yl3zzr0k6qn93cqe5g4vvkfechs6mn89mwyqfa2jcm thanks for pointing that out, I did not know. And really it's better that state's aren't given bankruptcy protection, it would raise the borrowing costs of all states. Better to see the deadbeat states default on their bonds and let the market downgrade their creditworthiness and/or shut them out completely.
Discussion
Serious moral hazard for those running states’ budgets. Why wouldn’t they run an insane deficit?