Pols Close Bankruptcy Option on Behalf of Greedy Unions

The only hope some municipalities have of surviving the pathological greed of public employee unions is to declare bankruptcy, as there is no way they can afford their outlandishly lavish contracts. But fortunately for unions, they own the Democrat Party, which is in a position to annul this last line of defense.

A bill that clamps down on municipal bankruptcy filings is headed for Gov. Schwarzenegger’s desk, which is bad news for Los Angeles and other cash-strapped California cities. … In particular, the bill says it intends to protect retirement pensions and health benefits for public employees, which would be disrupted and renegotiated in the wake of bankruptcy.

This could have a direct impact on the state’s largest city, Los Angeles, which is facing a huge budget shortfall.

Unfortunately, the liberal fools destroying the Land of Fruits and Nuts won’t be content to ruin their own cities, or even their own state. The money to pay 55-year-old retired garbage collectors to live like rock stars while others stand in unemployment lines has to come from somewhere. It’s only a matter of time until a federal bailout transfers our money to their pockets.

Mish’s Global Economic Trends Analysis sums it up:

Outrageously overpaid California public union parasites have every intention of sucking the last drop of blood out every taxpayer.

The Democrat Party is there to help them do it. If he signs this outrage, the Governator will qualify as an honorary member.

On a tip from Wingmann. Cross-posted at Moonbattery.

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