[Oldexpat]

Actually, it was a great idea. Instead of sending IOUs to suppliers send them to Govt retirees, or negotiate a Haircut default.

[Minn]

The only viable solution to the public pension mess is to declare them unconscionable contracts, obtained through fraudulent means, and void them. The next step would be to arrest the union leadership and any political figures that took their money and then sat across the bargaining table from them.

After they are convicted of theft by swindle they can be offered clemency if they agree to stay away from union activity and politics for life, as well as forfeit all money they and assets ever accumulated in their life of crime. The seized assets can go to partially compensate public employees that won't get the pensions obtained for them via fraud.

[paul51]

"The governor told the leaders that we're not going to do that," said Schwarzenegger spokesman Aaron McLear about the CalPERS idea. "It's just not the responsible thing to do."

Yeah, more responsible to sell bonds.

[Carley]

But but but I thought legalizing pot was going to be the answer to ALL the budget problems all across America.

[broken_arrow1]

"It's just not the responsible thing to do."

So when has that stopped them before?