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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Paul Smith who wrote (38367)	2/3/2013 2:55:23 PM
From: research1234	Respond to of 85487

But we have seen municipal governments declare bankruptcy just like companies - Harrisburg PA for example. It also seems that assuming that taxing authority makes public pensions funded, is flawed logic. If I thought that taxing authority was the answer, I could increase the size of municipal pensions by 1000X and it wouldn't matter because the taxing authority would always fund them. You're right of course. The Feds have more leeway to raise taxes than states, and states more than local. Hence local BK like your example or Orange County back in the 80's. So one Dem and one Rep example of government gone awry, hence my assertion that financial incompetence knows no political boundaries.