[quote=flu][quote=SD Realtor]Could not agree more Paramount. The ONLY way to get leverage and renegotiate with ALL CREDITORS including organized labor (public and private) is through bankruptcy.
This is what the city of San Diego should have done and it is definitely what California should do.
This problem is not going to go away.
Guess what, if the state raises 16B in revenue then it will spend 32B shortly after.[/quote]
But as long as they can continue to raise more taxes, BK isnt on the table.[/quote]
SDR and flu, are you CERTAIN that (Federal) BK judges will have the jurisdiction to discharge debts originating from contracts with unions and long ago-enacted retirement formulas in a Chapter 9 proceeding?
Since both of these types of “debts” are supported and bound by a HUGE framework of state law put in place by our Legislature decades ago, I just don’t see this constellation.
I think you may be barking up the wrong tree, here.
