Friday, January 21, 2011

Path Is Sought for States to Escape Debt Burdens

Policy makers are working behind the scenes to come up with a way to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers.

Unlike cities, the states are barred from seeking protection in federal bankruptcy court.

New York Times

1 comment:

Anonymous said...

Hello! nice blog!