Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Why would a GOP House majority bail out any state or city governments that are in debt b/c of public pensions? - he GOP Congress is going to be ill-inclined to bail out anyone on a public payroll and states aren't allowed to officially declare bankruptcy, nor are cities in half of those states.
Congress could pass a statute allowing states to declare bankruptcy, but a new enactment won't be forthcoming without a provision that allows them to vitiate their pension agreements with public-employee unions — unions that just happen to be one of the key building blocks of the Obama coalition. This is a recipe for deadlock. -
