State bankruptcy bill imminent, Gingrich says
Posted: Mon Jan 31, 2011 12:53 pmRealcent.org
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State bankruptcy bill imminent, Gingrich says
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Posted: Mon Jan 31, 2011 12:53 pmRe: State bankruptcy bill imminent, Gingrich says
Posted: Mon Jan 31, 2011 3:12 pmI didn't think this was Constitutional, as states are sovereign entities. However, the problem is and has been that state workers retire too early, many retire before 55 with lifetime benefits of a large portion of their salary. The solution would be to extend the retirement age and reduce the benefits.
Re: State bankruptcy bill imminent, Gingrich says
Posted: Thu Feb 03, 2011 7:20 pmCountry wrote:I didn't think this was Constitutional, as states are sovereign entities. However, the problem is and has been that state workers retire too early, many retire before 55 with lifetime benefits of a large portion of their salary. The solution would be to extend the retirement age and reduce the benefits.
That makes sense. Then again, you gotta remember we are talking about the government!
It appears the plan right now is to inflate away all their troubles with FRN monopoly money. If you are entitled to a $2,000/mo. pension and they print so much money it takes $4,000 just to buy food, they are happy about it.
Edit: Even if they did get to file bankruptcy, the Demos want to still give them money. How would that be any different? Either way, the US taxpayers are the ones who will get screwed. The Repubs control the House. They appropriate the funding. Just refuse to fund any state bailouts, if that is what they want. No other legislation is needed.