Posted on 02/21/2011 7:47:10 PM PST by yup2394871293
Legislation being pushed by House Republicans could require many states to disclose larger shortfalls in their pension plans and force them to take more aggressive steps to get their finances in order.
The Public Employee Pension Transparency Act, introduced by Rep. Devin Nunes (R., Calif.) earlier this month, would compel states and municipalities to meet stringent standards for reporting on the finances of employee-pension funds, and would expressly ban any federal bailouts.
Opponents view it as another congressional Republican swing at public-employee unions, which have come under fire as federal and state governments seek to tame budget deficits. Republican governors ...
(Excerpt) Read more at online.wsj.com ...
Honestly I think it says a lot when a rep from a basket case state says no to bailouts. My Michigan congressman is backing a no bailout to states or municipalities resolution.
Yes, apparently Mister Nunes knows that bailouts, or even the promise of bailouts, would make a dire situation impossibly worse.
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Yep. My Michigan congressman opposes bailouts to us because you don’t cure a crack addiction with more crack.
Our local paper actually endorsed him for being honest enough to say that he doesn’t intend to send pork our way. Instead he’ll work toward leaving more money in the pocket of those who earned it.
The feds should not be involved in state pension plans. Neither should they be involved in bailouts of states.
I don’t think it’s that simple in this case. States get a lot of money from the federal government. If states are dependent on the federal gov and they implode, that’s bad.
Crack addicts going off cold turkey isn’t a pleasent sight either, but consider the alternative.
The states shouldn’t have been getting money from the feds, or giving it to the feds.
The federal government doesn't have any money. The money they are "giving" out is collected from the taxpayers in the various states.
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