What If A State Defaulted?

What would happen if a state defaulted on its debt? It is unlikely. It has not happened since 1933. But…what if? In a fascinating simulation at The Economist’s Buttonwood Conference, an auspicious group of role players simulates a state debt…

California and Greece

An SAT question:California: US = Greece: EU. California and Greece are similar because…1. California and Greece have debt problems.2. Both have government employees with salaries and massive pension liabilities that they have to cover.3. Both would benefit from a central…