...DEMOCRATS Bring the Biggest Bankruptcy in History...

[News Hawk]

"Some of those bonds were issued to fund pension obligations, and some are held by — pension funds.

And any bankruptcy that gives bondholders a haircut will make it more expensive for cities to finance their obligations in the future.
 
To paraphrase the old muffler ad, you can pay bondholders now, or pay them later.
 
As you pick through the wreckage of the cases one pattern emerges, however: In a country where a 3.9 percent difference in the popular vote in a presidential election is considered a landslide, the overwhelming majority of the mayors and city council members of bankrupt cities are Democrats..."
 
As the Four Tops would say, it’s the same old song.

 
http://bostonherald.com/news_opinion/opinion/op_ed/2013/06/same_old_song_for_dems_steers_detroit_to_crash

[WHL]

Only the Dems call the election a landslide.  It makes them feel good.

If this country starts filing bankruptcy all over the place and bond holders don't get paid, the country is done.  Who is going to fund all this stuff the liberals want?