What you faid to realize is that if the money doesn’t exist, then it doesn’t matter what contractual obligations are owed the public unions.
Think Enron...
“What you faid to realize is that if the money doesn’t exist, then it doesn’t matter what contractual obligations are owed the public unions.”
What you fail to understand is that many public sector retirement benefits are protected by State Constitutions, thus they MUST find the money to pay retirees, whether it be from general funds, issuing bonds, raising state taxes, etc. Unless you can think of a way to get around a State Constitution, which I doubt you can. Now, if there is no protection constitutionally within a State, then they can go after benefits to their hearts’ content.