No person who has an ounce of compassion wishes this on anybody, but the unions and politicians have spent the pot and there is nothing left.
People, like your aunt, will suffer for being led by fools. It’s better, while you can, to help her downsize when she can make a choice to do so rather than in haste after it is announced that there is no money.
There are going to be heartbreak stories like this, like there were about holders of the old GM and Chrysler stock.
If there is any justice left on earth, the politicians will pay symbolically if not literally. What may happen instead is that there will be a Federal bail out.
Let’s not forget in many instances the locally elected uneducated school board members and their attorneys who failed to negotiate for common sense retirement packages.