The state needs to either negotiate with the pension beneficiaries or find a way to get legislation passed so the state can declare a BK.
The case for state bankruptcy https://www.bloomberg.com/news/articles/2016-01-21/the-case-for-allowing-u-s-states-to-declare-bankruptcy
war is the solution for bankrupt kings
Iowa has corn, lots of corn
The Dems do not want to be able to declare bankruptcy. As soon as they CAN, then they will be forced to, and then they will have millions of enraged union retirees.