"The point of this is to smoke the rats out of their holes. What is the total amount of pension debt? No one really knows."Rep. Devin Nunes (R-CA) on a bill introduced by House Republicans to deny states and localities the ability to sell tax-exempt bonds unless they report their pension-fund liabilities to the Treasury Department.
SOURCE: "Pension Woes Prompt GOP Move" by Michael Corkery, Wall Street Journal, December 6, 2010.
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