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Should a State be allowed to file for bankruptcy? Creating a Hostile Atmosphere?

....Among those backing the right of states to enter a formal bankruptcy is Americans for Tax Reform. Its director of state affairs, Patrick Gleason, doesn't deny that the anti-tax group specifically wants to force the issue of pension and healthcare benefits to the forefront, which obviously would be a serious challenge to organized labor. But he says unions need to face up to the reality of state finances.

"It's in their interest to renegotiate these contracts to something the states can afford," Gleason said.

Some unions see a more sinister motive: crippling organized labor in its last great bastion, the public sector, where 37% of workers are union members compared with just over 7% of private-sector workers.


Chuck Loveless, director of legislation for the American Federation of State, County and Municipal Employees, says the groups agitating for the state bankruptcy option are doing so "for the express purpose of reneging on collective-bargaining agreements.

"We take this very seriously," he said
. "They're trying to create this hysterical atmosphere"....

Answer Question
 
grlygrlz2

Asked by grlygrlz2 at 6:16 PM on Jan. 25, 2011 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (9)
  • Yes they should. The well is drying up.
    Carpy

    Answer by Carpy at 7:40 PM on Jan. 25, 2011

  • House Majority Leader Eric Cantor, R-Va., told reporters Monday that he believes states already have the tools they need to ease crushing budget deficits since they can cut spending, raise taxes and pressure public employee unions to renegotiate their contracts and pension benefits. As a result, he said, he opposes letting states declare bankruptcy because he said they don't need that power.


    While some conservatives say that allowing states to declare bankruptcy would prevent a federal bailout of states, Cantor said he disagreed.


    "We don't need that to stave off a federal bailout. There will be no bailout of states," he said. "The states can deal with this and have been able to do so on their own."

    sweet-a-kins

    Answer by sweet-a-kins at 10:39 PM on Jan. 25, 2011

  • sweet-a-kins

    Answer by sweet-a-kins at 10:39 PM on Jan. 25, 2011

  • So, sweet. Are you saying you agree with Cantor? Is Cantor's statement how you support your stance? Is this how YOU answer the question, "Should a State be allowed to file for bankruptcy?"
    grlygrlz2

    Comment by grlygrlz2 (original poster) at 11:16 PM on Jan. 25, 2011

  • So, sweet. Are you saying you agree with Cantor? Is Cantor's statement how you support your stance? Is this how YOU answer the question, "Should a State be allowed to file for bankruptcy?"


    The republican leadership doesn't agree with it, that's why I posted....seems no one else bothered to answer

    sweet-a-kins

    Answer by sweet-a-kins at 9:56 AM on Jan. 26, 2011

  • So your answer is based on partisan politics and not your own logic based opinion?
    grlygrlz2

    Comment by grlygrlz2 (original poster) at 10:02 AM on Jan. 26, 2011

  • I am for filing for states filing bankruptcy. It's time to reign in Pensions, wasteful programs, etc.. California already has the lowest credit rating in the US. Primary reason? Massive unfunded pension liability
    grlygrlz2

    Comment by grlygrlz2 (original poster) at 10:05 AM on Jan. 26, 2011

  • I'm not sure. As for the hostile atmosphere, people and groups can get over it. Companies have to do with less when a person or business files. It's the same thing
    Bankruptcy is basically a bail out. They are required to pay out some of their debts but others are just written off. . Of course if it's the only way to change union contracts I'd have to say I am for it.
    itsmesteph11

    Answer by itsmesteph11 at 10:52 AM on Jan. 26, 2011

  • As for the hostile atmosphere, people and groups can get over it


    I found it very interesting the representative for the "employees" hints around to the idea of a "hostile atmosphere" ....Not that I think a Greece scenario would occur....... But I question what he is insinuating with "hostile atmosphere" between state union and the state?

    grlygrlz2

    Comment by grlygrlz2 (original poster) at 11:02 AM on Jan. 26, 2011

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