History of IDEA
Jeannie Oakes, Founder and Former Director
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Governors rip congress' state bankruptcy talk
- 03-01-2011
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By Sean Cavanagh/Education Week
A number of governors who came to Washington for a winter policy meeting made a point of blasting the idea that the U.S. Congress would let states declare bankruptcy, a move that might allow for the negation of costly pension contracts for teachers. In fact, the governors seemed to wish everybody would quit talking about the idea altogether. Washington Gov. Christine Gregoire and Connecticut Gov. Dannel Malloy, speaking at the opening of the National Governors Association's winter conference, told reporters that talk of such a move, which has buzzed around the nation's capital in recent months, would roil financial markets and make it more difficult for states to borrow money for important projects. The governors also suggested it could imperil states' financial recovery from the recession. (more...)
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