There is a high chance a majority of the States within the United States of America could file for Chapter 9 bankruptcy. There are currently 46 states with high budget deficits, Arizona being one of them.
In fact, Jan Brewer, the newly appointed Governor of Arizona has a major crisis on her hands, one that Arizona and national media isn’t covering. The alarming news is the State of Arizona has 90 to 120 days before they completely run out of money. After that, all bills and tax refunds owed to the citizens will go unpaid.
Before Janet Napolitano left for her new Homeland secretary position, she had a stand-off with Arizona Treasurer Dean Martin. The AZ Treasurer forewarned Napolitano about Arizona’s financial crisis, but she refused to heed his words.
With neighboring California on the verge of bankruptcy this year, many States will follow in their steps.
Many States are already scurrying to cut unwanted costs, cut State-funded programs, raise taxes, not issue tax refunds to their citizens, and borrow money just to survive in 2009. Unfortunately, many banks — the same banks the Fed bailed out — are refusing to loan money to the States and their Treasury agencies.
The article, State Budget Troubles Worsen, at the Center on Budget and Policy Priorities website is an excellent piece to read. It shows where each State currently stands in these challening economic times, and you see 46 of the 50 States are clearly in the financial red.
It’s very possible you’ll see the end of the United States as we know it. If the Fed doesn’t bailout the States when their cash dries up and the banks don’t loan them money, then our States will be left in financial ruin. This would be a tragic and unprecedented event never experienced in the United States.
No State has ever filed bankruptcy, but it could be coming to a State near you this year.
We are on the brink of something far worse than the Great Depression.
Source: http://freedomarizona.wordpress.com/2009/01/30/46-of-50-states-could-file-bankruptcy-in-2009-2010/
dprogram.wordpress.com 
Wow… That’s crazy guys.
I cant believe we let this happend. We let banks take over the world.
Control everything. At the end of all this, its going to be a bank that bails us out.
Now, what we gonna do?
What are we gonna do? This will work but painful.
Revalue gold at $150K per oz, do not tax those smart enough to own real money when this is done. It will save the USD. Save the bank bailout for the states, let the banks fail and nationalize them.
Bring the troops home, cut defense budget in 2/3s, use part of that money as seed money to restart manufacturing of goods in the US. Put a 200% tarriff on all imported goods for 36-60 mo to give domestic producers a chance to startup, then match other countries tariff for tariff. Immediately deport all H1Bs. Destroy all vacant real estate when banks are nationalized to level supply.
Eliminate the Federal Reserve and the Supreme Court. Actually crucify Bernanke in Times Square as a warning to Illuminati bankers.
Publically hang all the Wall Street investment bankers as warning to future bankers, starting with Paulson and Ruben, and their families. No one will want to be a banker until the time that Fractional Reserve Banking is eliminated, which is good..cash system will exist during this time. Will take several years to spin that down. Once eliminated, banking will be a sane profession again(real risk and reward)
Tax the hell out of gas to get people to stop using it for wasteful driving which will kill the Arabs and Russian economies in 12 mo. Use imported oil to restart production in the US. Open the giant untapped fields in Alaska that are known to exist
Bottom line: ALL AMERICANS start thinking about America as a family that needs to get itself back in shape, and not depending on the world for our consumption, and to stop taking care of the world on one hand and destroying it with the other. We cant afford it any more.
Why do you call a budget shortfall a bankruptcy? That seems to be quite a jump.