The Republican Way: States should declare bankruptcy rather than meet their public obligations
Nothing shines a brighter light into the cesspool of Republican morality than the way the GOP approaches financial responsibility. Today we learn that Republican senators in Congress are looking for backdoor ways to allow states to declare bankruptcy in order to avoid funding their commitments to public pensions. Witness corporatist arrogance in the extreme, a full-frontal assault on public workers.
There is a simple and honorable solution for states that want to meet their financial obligations: raise taxes. But don't expect Republicans anywhere, including here in North Carolina, to worry about their commitments. They'd rather see states declare bankruptcy and destroy the foundation of government than do what they promised to their workers. It's the Republican Way.
The article references "Senators from both parties" but mentions none except for John Cornyn. It also mentions Gingrich, which makes perfect sense. The serial adulterer doesn't have a shred of integrity in the first place, so this comes as no surprise.
House Republicans, and Senators from both parties, have taken an interest in the issue, with nudging from bankruptcy lawyers and a former House speaker, Newt Gingrich, who could be a Republican presidential candidate. It would be difficult to get a bill through Congress, not only because of the constitutional questions and the complexities of bankruptcy law, but also because of fears that even talk of such a law could make the states’ problems worse.