[truthguy]

Congress needs to change the laws to allow the States to go bankrupt. In this way the States can restructure the retirement of their employees and retirees. There is no other way. Maybe if the states did their job 10-15 years ago the States would not have been in this mess.

[exnavy]

We are living in a house of cards, it will soon crash down around our necks.

[OBXWanderer]

Maybe if the states did their job 10-15 years ago the States would not have been in this mess.

Like Galveston County, Texas did in the early 80s

[REPANDPROUDOFIT]

Ditto! We've got to have the guts to let states go bankrupt!

Taxpayers are told ad infinitum that government workers' pensions and benefits are "protected" by the state constitutions. No one can do anything to change them. They are guaranteed!

Well, how come my rights aren't protected by the constitution? How come, while our own retirement funds are dwindling, we are told we need to plan on paying more in taxes to cover the retirement funds of government workers. In other words, even in retirement, we will be paying out of our own funds to pay for theirs.

[REPANDPROUDOFIT]

Ditto! We've got to have the guts to let states go bankrupt!

Taxpayers are told ad infinitum that government workers' pensions and benefits are "protected" by the state constitutions. No one can do anything to change them. They are guaranteed!

Well, how come my rights aren't protected by the constitution? How come, while our own retirement funds are dwindling, we are told we need to plan on paying more in taxes to cover the retirement funds of government workers. In other words, even in retirement, we will be paying out of our own funds to pay for theirs.

[krogers58]

Congress needs to change the laws to allow the States to go bankrupt. In this way the States can restructure the retirement of their employees and retirees. There is no other way. Maybe if the states did their job 10-15 years ago the States would not have been in this mess.

Why would the Politicians change the current laws? They are able to buy votes today, with little money down. They simply promise lavish pensions to Fed, State, and municipal workers in lieu of pay increases, and they get the union votes. They figure, we the voting public, won't figure it out until they are long gone from office. We need to let each of them know that their personal assets are at risk, as well as those of their immediate family, much as the assets of Bernie Madoff and family are. After all, there is little difference between what Bernie did and what our current politicians are doing, other than the size of the pyramid scheme is much larger with our politicians (Social Security is soon to be bankrupt also, for the same reasons).