California Senate candidate Carly Fiorina is backtracking off the comment now, but she suggested that California declare bankruptcy as a way to deal with the state’s financial problems.
“Whether that is the right approach now, I don’t know. I think bankruptcy, as a possibility, at the very least focuses the mind on what has to be done to salvage a situation,” Fiorina said.
The only problem is that federal law does not allow states to declare bankruptcy.
Afterwards, Fiorina said that she knew that.
“Sure, I knew, but what cold comfort is that to all these California voters who may not know that technicality but who are sitting here knowing that by any common-sense definition, this state can’t pay its bills.”
That is quite a “technicality.”
A spokeswoman for Fiorina claimed that Fiorina was only trying to explain how bad the financial situation is in California. Duh…it is not like Californians do not understand this. That was a poor cover up. It is clear that Fiorina did not know that states, unlike local governments, are prohibited from becoming legally bankrupt.
As a former CEO of Hewlett-Packard, she is supposed to be able to bring in her business skills to solve government problems. Of course, bankruptcy is an option in the business world.
I don’t think those are the business talents Californians were expecting.
