{"id":3061,"date":"2011-01-13T23:42:19","date_gmt":"2011-01-14T03:42:19","guid":{"rendered":"http:\/\/shermandorn.com\/wordpress\/?p=3061"},"modified":"2011-01-13T23:58:40","modified_gmt":"2011-01-14T03:58:40","slug":"why-bankruptcy-is-a-stupid-mechanism-to-get-back-at-public-employee-unions","status":"publish","type":"post","link":"https:\/\/shermandorn.com\/?p=3061","title":{"rendered":"Why &#8220;bankruptcy&#8221; is a stupid mechanism to get back at public-employee unions"},"content":{"rendered":"<p>After New Jersey Governor Chris &quot;Powderkeg&quot; Christie mentioned state bankruptcy in connection with health-care costs,&nbsp;<a href=\"http:\/\/www.bloomberg.com\/news\/2011-01-13\/new-jersey-slashes-bond-sale-51-after-christie-s-bankrupt-comments.html\">New Jersey had to reduce a bond sale<\/a>&nbsp;(hat tip: a friend in New Jersey). While state officials are denying any connection, this should put a damper on any foolish schemes to declare local or state bankruptcy for the sole purpose of getting out of pension obligations. Most jurisdictions are not Detroit, and the long-term consequence of a bankrupcy declaration is much more expensive borrowing costs. It&#39;s tempting to declare nuclear war to get at your adversaries, but this was very, very stupid on the part of Christie. He needs to get a shovel out&#8230; again.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After New Jersey Governor Chris &quot;Powderkeg&quot; Christie mentioned state bankruptcy in connection with health-care costs,&nbsp;New Jersey had to reduce a bond sale&nbsp;(hat tip: a friend in New Jersey). While state officials are denying any connection, this should put a damper on any foolish schemes to declare local or state bankruptcy for the sole purpose of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11,17],"tags":[],"class_list":["post-3061","post","type-post","status-publish","format-standard","hentry","category-education-policy","category-union"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pag0MB-Nn","_links":{"self":[{"href":"https:\/\/shermandorn.com\/index.php?rest_route=\/wp\/v2\/posts\/3061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shermandorn.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shermandorn.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shermandorn.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/shermandorn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3061"}],"version-history":[{"count":3,"href":"https:\/\/shermandorn.com\/index.php?rest_route=\/wp\/v2\/posts\/3061\/revisions"}],"predecessor-version":[{"id":3064,"href":"https:\/\/shermandorn.com\/index.php?rest_route=\/wp\/v2\/posts\/3061\/revisions\/3064"}],"wp:attachment":[{"href":"https:\/\/shermandorn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shermandorn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shermandorn.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}