Governmental Bankruptcy

12/28/2010 Human Observations
Over 600 cities here in the USA are looking to solve their economic problems in the bankruptcy court. The deliberations continue as the courts resist "opening the flood gates" of governmental bankruptcy filings. Consider the conundrum for a local government: it accumulates most of its revenues by taxing homeowners and businesses, yet and uses most of these revenues to pay salaries and wages. Needless to say, by providing food, clothing, education and housing to its citizens, the free exchange of goods and services would eliminate this problem. Additionally we eliminate the need to economically compete with other nations of the world if this principle of equality and provision were adopted on a planetary scale. A house divided wars against itself; and ours is become a singular planetary house.