Some States Find Roadblocks When Trying To Hack State Workforce

"Nicholas Johnson, head of the center’s State Fiscal Project, said the meltdown of so many state budgets has far more to do with falling revenues and climbing expenses in other areas than it does with employee benefits."

NYT Editorial Blasts Idea Of A State Declaring Bankruptcy To Ditch Pension Obligations

"But bankruptcy would fight fire with gasoline, spreading instability to the bond markets, scaring off investors who might think they would never get repaid, and making it much harder and more expensive for states to raise desperately needed capital. Some bond experts say even talk of allowing states to declare bankruptcy has rattled markets."

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