Will Rhode Island sink into the Atlantic?
Greece may sink into the Aegean Sea for all its debt, and if the New York Times report is true, so will Rhode Island.
While hemorrhaging huge amounts over unfunded pension liabilities, Rhode Island and Providence Plantations has done very little to shore up its debt and budget deficits.
Rhode Island has always been a bastion of liberalism and rebellion, due in part to its diminutive size and unsteady borders over the past few centuries.
Despite its crude reputation for aiding and abetting the triangular slave trade, Little Rhody would make a big fuss throughout its early years, even refusing to ratify the United States Constitution until it could no longer hold out on its own.
North Eastern Liberalism, complete with rebellion and state control from its Puritan roots, has now dug for itself a looming financial crisis, from which only a conservative and restrictive fiscal policy can relieve the state.
Has North Eastern Liberalism met its demise? Only time will tell, of which Rhode Island has very little.