“The Virginia Retirement System currently faces an unfunded liability of $17.6 billion, according to the letter Governor Robert McDonnell sent Tuesday night to the Virginia House of Delegates explaining why he had not signed the funding plan.”
It is already illegal for government union workers to collectively bargain in Virginia and Texas.
While the media has focused attention on Wisconsin, limits on government union worker collective bargaining have been introduced in several other states: Ohio, Tennessee, Idaho, Indiana, Kansas, Iowa, Colorado, Nebraska, Nevada, Oklahoma, New Mexico and Washington.
There is a $4.2 billion shortfall in the current two-year budget. This shows the ludicrous budgets that get proposed in most states. They are supposedly balanced, then they go in the hole by $4 billion and the politicians say “oops, look what happened!”.
Virginia has a total state debt of $22.3 billion.