You nailed it.
“Good. This business about politicians giving away our future for political favors needs to come to an end.”
I certainly agree with that.
But this makes it even more likely for that to happen.
Now they can promise anything, give away anything and the just cry bankruptcy.
Now they know they can get away Scott free.
And then the Feds take over.
They love it.
This gives politicians in these local government fiefdoms carte Blanche to promise anything they want knowing they won’t be held to it.
Re government pensions generally: As my maternal grandma used to love to say to me.....”son, if it SOUNDS too good, it usually is”.
We have all heard that. So, when does being just plain STUPID become accountable? ANSWER: it just did!......with this judges ruling!
The pols were both corrupt and stupid for not saying No to the unions and the workers were stupid to set their little hearts and goals on union thugs and crooked politicians. These stupid people will be lucky to get 10% not to mention 16%. The lawyers will get their cut.
In the larger scheme of things, this money does not exist in this universe. SO, ultimately, it doesn’t matter what ANYBODY thinks!!