Bangkoktraveler Posted January 20, 2011 Report Share Posted January 20, 2011 Former Speaker of the House Newt Gingrich is putting his legislative weight behind a bill that would clear the way for states to file for bankruptcy. Former Speaker of the House Newt Gingrich is putting his legislative weight behind a bill that would clear the way for states to file for bankruptcy. Gingrich says this would help limit future bailouts to states struggling with former employees' pension funds and other benefit promises in the current financial downturn. Among the proponents of the measure are Americans for Tax Reform, a Washington-based lobbying group that fights tax increases. In addition, a spokesman for Gingrich said the former congressman is working with people inside and outside of Congress to help get the bill introduced into Congress. "It's in the short-term and long-term interests of government workers and taxpayers to start those reforms now, rather than having to pick up the pieces after a crash landing," ATR President Grover Norquist told Pensions and Investments Online. This could help some struggling states, including Kansas, Oklahoma and New Hampshire, which have the lowest-funded status ratios in the country. The legislation could likely gain traction as in recent months many states have begun to rework laws so municipalities can more easily file for protection. Link Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted January 20, 2011 Author Report Share Posted January 20, 2011 California would probably be the first State to go belly up. Retirement and health plans could be eliminated. Link to comment Share on other sites More sharing options...
Flashermac Posted January 20, 2011 Report Share Posted January 20, 2011 Maybe some states could secede and ask for foreign aid. The US gummint has always been more generous with foreign countries. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted January 20, 2011 Author Report Share Posted January 20, 2011 Maybe some states could secede and ask for foreign aid. The US gummint has always been more generous with foreign countries. I think that is what Arizona wants to do. Link to comment Share on other sites More sharing options...
rchapstick Posted January 20, 2011 Report Share Posted January 20, 2011 WOW, HH must cheering like mad for Newt! Imagine, getting all those blood-sucking state retirees off the "welfare rolls"! Woohooo!!!! Link to comment Share on other sites More sharing options...
Flashermac Posted January 20, 2011 Report Share Posted January 20, 2011 Stop paying politicians a salary until they balance the budget. Only when a state (or the fed) govmt is in the black should they be paid. If they go in the red, no pay. Plenty of salesmen work on commission. Let the pols be the same. Give them an incentive to do their job right! Link to comment Share on other sites More sharing options...
Central Scrutinizer Posted January 20, 2011 Report Share Posted January 20, 2011 Link to comment Share on other sites More sharing options...
kamui Posted January 20, 2011 Report Share Posted January 20, 2011 Maybe some states could secede and ask for foreign aid. The US gummint has always been more generous with foreign countries. I think that is what Arizona wants to do. And they would get health care for all. They could ask Chavez for free oil and Cuba for a first class health care system. :content: Link to comment Share on other sites More sharing options...
unit731 Posted January 20, 2011 Report Share Posted January 20, 2011 Maybe some states could secede and ask for foreign aid. The US gummint has always been more generous with foreign countries. Oh . . . for Christ's sakes . . . they already tried that. It was called the Silver War. 1861-1865. And the friggin' Red Neck, Tea Bagger, Anti-Governments types . . . LOST ! Link to comment Share on other sites More sharing options...
unit731 Posted January 20, 2011 Report Share Posted January 20, 2011 Here's more . . . nP3b0_fnPxQ Link to comment Share on other sites More sharing options...
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