[Rusty0604]

“The taxpaying public can, therefore, morally use their political muscle to undo them in like manner.”

Not so easy in union run states like CA.

[Vigilanteman]

Correct. Which is why I believe that congress should pass a bankruptcy bill for states, counties and municipalities. Much like an individual or company bankruptcy, they would be required to revert to the status of a territory and have their affairs managed as such.

They would also lose the appropriate congressional representation and be required to reapply for statehood once they showed they could manage their financial affairs.

If only a portion of that territory was able to do so, they could apply for statehood separately.

So let's say California declared bankruptcy and, following the waiting period, only portions of rural California were able to demonstrate solvency, they could be admitted as separate states.

If there is a better suggestion on solving the public employee union pension crisis without dragging the entire country down, then I have yet to hear it.

[RightOnTheBorder]

Very true. California will not change its ways and eventually pensioners will be receiving IOU’s. That will be really amusing because Cali considers pensions taxable incomes and I guarantee the state will be taxing those pensioners based on the “value” of the IOU’s.