McConnell Says He Favors Letting States Declare Bankruptcy

Senate Majority Leader Mitch McConnell has mentioned that he would rather have states declare bankruptcy than give states federal bailout payments if they are struggling with the high public employee pension costs. When he talks about states declaring bankruptcy, he mentions: “It’s saved some cities, and there’s no good reason for it not to be available.” 

Phil Murphy, the Governor of New Jersey, was quite shocked at McConnell’s statement. He commented on it by saying “completely and utterly irresponsible.” He also mentioned that New Jersey will not go bankrupt. Many leaders have stated that McConnell’s statement means firefighters and police officers being put out of jobs, hospitals closing down and the sick being thrown out on the streets. 

Read More