George Will asks a relevant question — with so many blue states beholden to Big Labor and their big spending policies, will the Federal Reserve start bailing out states, cities and municipalities?
Obviously, a bailout would do nothing but kill efforts to reform the system. It would allow union bosses to continue to press for higher salaries and benefits for government workers and the politicians who they elected would have no reason to say no.
Keep an eye out on this issue. It is the next big labor bailout on the horizon.