{"id":358189,"date":"2010-02-24T11:53:00","date_gmt":"2010-02-24T16:53:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/is-the-us-about-to-adopt-a-maastricht-treaty-to-restrict-states-rights-and-their-ability-to-run-deficits-2010-2"},"modified":"2010-02-24T11:53:00","modified_gmt":"2010-02-24T16:53:00","slug":"is-the-us-about-to-adopt-a-maastricht-treaty-to-restrict-states-rights-and-their-ability-to-run-deficits","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/358189","title":{"rendered":"Is The US About To Adopt A “Maastricht Treaty” To Restrict States’ Rights And Their Ability To Run Deficits?"},"content":{"rendered":"

\"EU<\/p>\n

The longer you think about it, the harder and harder it is to see a difference between the situation in the EU right now, and the USA with its various states facing a budget crisis.<\/p>\n

The only big difference — which is grim — is that Europe is facing a crisis over one of its minor states (Greece), while we’re facing a crisis with our biggest, most economically important state (California).<\/p>\n

George Soros<\/a> is arguing that the Greece crisis exposes the folly of a system whereby states of their own Treasury departments, but share a common currency — again, just like the US.<\/p>\n

So this raises a question, which we’ll just toss out to you, will the US eventually adopt some kind of Maastricht Treaty<\/a> (the treaty the EU countries all signed whereby the agreed to limit their deficits, among other things) that applies to states?<\/p>\n

If the US does in fact bail out California, and really, that seems unavoidable, then there would have to be conditions on spending, right?<\/p>\n

Join the conversation about this story »<\/a><\/p>\n

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