On Fox’s America Live this afternoon, senior judicial analyst Judge Andrew Napolitano took on the news of how a judge ruled that Stockton, Calif., can become the first American city to declare bankruptcy by slamming the local government’s “reprehensible” spending habits that led to their dodging debt obligations via insolvency.
“Stockton is the beginning of a very long train,” Napolitano said before recalling all the various debts the city holds to other government bodies. “Where is the money going to come from?” he asked.
“This is reprehensible what the politicians did in order to get votes,” he continued. “How did they get votes? By giving lavish deals for people who will continue to keep them in office. They either never thought they’d run out of cash or the cash would run out not on their watch; and they also, of course, wrote laws that would benefit themselves because the politicians making these laws would themselves be pensioners some day. So these pensions are lavish and generous and noncontributory, comes from the taxpayers.”
Host Megyn Kelly responded that “we want our firefighters and police officers to be taken care of,” but the city’s financial situation has led to massive slashes in health and recreation deals.
“This is a causal relationship to the profligate ways that the people who ran the city … have been running it,” the judge said, before adding that “the total unfunded liability of state and local governments for their pensions — pension payments they must make which they do not now have — is in excess of 4 trillion dollars.”
Ultimately, he concluded, cities like Stockton are pushing their debt onto later generations. “And it’s reprehensible, immoral, not authorized by the Constitution,” he said.
Watch below, via Fox:
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