California Republican touts legislation banning public pension bailouts
By Mike Lillis - 01/01/11 12:31 PM ET
The country’s public pension system is grossly underfunded and needs an overhaul, Rep. Devin Nunes said this week.
The California Republican is promoting legislation designed to gauge the extent of the problem, while also establishing a ban on federal bailouts of public pension programs.
“Part of the problem that we have today … is we don’t know what the truly unfunded liabilities are,” Nunes told Fox News on Friday. “We need to know exactly what the number is. We can’t make decisions at any level of government if we don’t know what the true undisclosed benefit is or liability is for these benefits.”
Please! Let the greedy union people receive the consequences of their greed!