The Marin Post

The Voice of the Community

Blog Post

CSPP

Could Poorly Managed States End Up in Bankruptcy?

I hope that you are all doing well during these tough times of 'sheltering in place'. Although incredibly boring, it appears to be having positive results.

This editorial is but one of many articles on the topic of states requesting bailouts for their pension debt. Here is a link to another excellent article:

https://www.msn.com/en-us/news/politics/mcconnell-says-he-favors-allowing-states-to-declare-bankruptcy/ar-BB1336bq

Congress is, as usual, divided on the matter, with Speaker Pelosi apparently in favor of asking for federal funds for such bailouts. It will be interesting to see how this plays out.

I feel certain that most of us do not believe that states should be rewarded for their reckless mismanagement and excessive generosity of pensions coupled with their ongoing resistance to meaningful pension reform.

Here is a link to the Chicago Tribune editorial referenced in the article below:

https://www.chicagotribune.com/opinion/editorials/ct-edit-illinois-seeks-federal-bailout-pensions-coronavirus-20200419-ymvxr3m2lzd3zcoyytbahkyqki-story.html

This editorial and more articles on this topic are posted on our Facebook page for your comments.

Take care and stay safe,

CSPP

www.marincountypensions.com

www.facebook.com/citizens4pensionreform