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A comment on Puerto Rico files for biggest ever U.S. local government bankruptcy. Parent comment

Re:Puerto Rico files for biggest ever U.S. local government ... by AnimalMuppet on Wednesday May 03, 2017 @05:21PM (#14260230)
Sure, seniors vote. Don't assume that the seniors in, say, Texas are going to be in favor of higher taxes in order to rescue pensions in California and Illinois, though.
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Re:Puerto Rico files for biggest ever U.S. local government ... by Jedd on Wednesday May 03, 2017 @06:39PM (#14260854)
Texas (at the time of writing) only appears in this page the once ... which is surprising in this context given its history. [1]

A country / protectorate defaulting is not necessarily something that can't be recovered from, and in some cases is the only sensible (or indeed feasible) course of action.

[1] https://en.wikipedia.org/wiki/Texas_dollar

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