I think we will see a federal bail out, plus benefit cuts, plus Illinois privatizing some government assets. I would bet Puetro Rico's pension recipients get their benefits cut also.
We will all pay in the end though, via the reduced value of the US dollar. Just have to make sure we stay ahead of inflation, and try not to live in the jurisdictions with the worst finances, because they're quality of life will probably steadily erode.
http://abcnews.go.com/International/wireStory/puerto-rico-re...
We will all pay in the end though, via the reduced value of the US dollar. Just have to make sure we stay ahead of inflation, and try not to live in the jurisdictions with the worst finances, because they're quality of life will probably steadily erode.