
An Atlantic City bankruptcy:promising for taxpayers, bad for politicians!
By Matt Rooney
Doomsday predictions were leveled, Save Jerseyans, but over one year removed from the Detroit, Michigan bankruptcy – the largest municipal bankruptcy in U.S. history –the Motor City is shaping up and making substantive progress. It can pay its bill and streets are being repairs. Sad as it is to stay, that’s huge.
You’re only surprised if you don’t trust the framework established by our Framing Fathers. Specifically, Article 1, Section 8, Clause 4 of the U.S. Constitution which authorizes Congress to enact “uniform Laws on the subject of Bankruptcies throughout the United States.”
And, of course, if you’re a politician fighting over Atlantic City like lions or hyenas battle over the scraps of a rotting carcass…
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