[PaulMason]

Originally Posted by railfancwb

When Chrysler and GM were on the ropes, they went through an Obamaruptcy. The unions got their pensions and much of the companies, the bondholders got baths. Think California and other government employee unions won't get similar preferential treatment?

Yes, I can see something similar happening.

[PaulMason]

Originally Posted by bdcochran

Hey, I thought that the federal payments for phone service was for rural Americans who were indigent.

http://www.snopes.com/politics/taxes/cellphone.asp

Maybe they should be called Reaganphones?

[pugman]

The only thing which shocked me about this article was the fact it was Camden and not Detriot.

I'm 42..turning 43 in 11 days. Within my lifetime the fed will collapse (In all honesty, I have a $1,000 standing bet its within five years).

Some educated estimates put the advertised national debt at $30 trillion within four years with an Obama victory - not that I think Romney will save us. By this point unfunded liabilities could exceed $250 trillion dollars - this is a number you generally only hear astronomers talk about

Stay Alert, Focus on your B's and get ready...its going to be a bumpy ride