Search results
Results from the WOW.Com Content Network
The last instance of such a default took place during the Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [1] Current U.S. bankruptcy law, an area governed by federal law, does not allow a state to file for bankruptcy under the Bankruptcy Code. [2]
Throughout history, martial law has been imposed at least 68 [3] times in limited, usually local areas of the United States. Martial law was declared for these reasons: Twice for war or invasion, seven times for domestic war or insurrection, eleven times for riot or civil unrest, 29 times for labor dispute, four times for natural disaster and ...
Within some years, the District accrued a debt of hundreds of thousands of dollars, and it had liabilities in the tens of millions. With the consent of Texas, the District declared bankruptcy under the Municipal Bankruptcy Act of 1934, a New Deal amendment to the Bankruptcy Act of 1898. The District presented a compromise plan to rectify the ...
State bankruptcies have recently become an open question as the coronavirus pandemic shreds many states’ finances. No state has ever declared bankruptcy, though. As state and local governments ...
The majority of state debt was owed to parties outside the U.S., primarily Europe. [5] State debts were largely paid off in full by the late 1840s, although no direct sanctions were enacted to force repayment. The state defaults inspired the enactment of the Bankruptcy Act of 1841, although the Act did not apply to the states themselves, [6 ...
SUMMARY: Republicans who just bailed out thousands of private companies and supported a vast increase in federal deficit-spending now want states to declare bankruptcy.
The president is the civilian Commander in Chief of the Army and Navy of the United States. They have the authority to command them to take appropriate military action in the event of a sudden crisis. [4] However, only the Congress is explicitly granted the power to declare war per se, as well as to raise, fund and maintain the armed forces.
As free states sought to undermine the federal law, the even more severe Fugitive Slave Act of 1850 was enacted. In 1864, during the Civil War, an effort to repeal this clause of the Constitution failed. The vote in the House was 69 for repeal and 38 against, which was short of the two-to-one vote required to amend the Constitution. [5]