[CWuestefeld]

If much of his cuts get passed, there is a real possibility some local munis will actually go bankrupt.

Yes, and I hope that happens. Just like the fed bailout of banks and of GM were wrong, we need to let bad institutions die. How else can society learn what works and what doesn't?

By keeping interest rates across the board obscenely low, we are providing much needed time for them to pay off debts.

Interesting thought, I hadn't considered it that way. The question is whether it's worth the cost.