Rhode Island Pension System Collapsing

According to Walter Russell Mead of The American Interest:

Rhode Island is one of the bluest states in the country, and one where public sector unions have long worked with sympathetic politicians to create a true blue system of well paid public employees retiring comfortably on generous pensions with cost of living raises automatically thrown in.... The only problem is that the state could never afford the beautiful utopia it was crafting...

Read More

Rhode Island State Capital Building, Providence, RI

I wonder if Rhode Island can qualify for a Federal bailout...

Source: Mead, W R (2011, September 5), Rhode Island Pension System Collapsing, The American Interest.