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Unfunded pension liabilities. they are asking them to take reduced benefit in the fewture and thousands of employees converged on the capitol. back with the panel. what about this, fred? >> there are not many things that democratic politicians being cross purposes with organized labor. labor is part of their constituency and huge part. it gives them money. it's tough for them. in california, jerry brown talked about this and running for governor. he has done nothing so far this year. maybe he will negotiate. he has a budget but it doesn't include pension. in illinois, pat quinn the governor ha...

Was it caused by the police? was it caused by firefighters? no. wealthy c.e.o.s -- >> not true at all. it was by auto workers demanding so much money, clocking out at 5:00 p.m. -- each day. >> i didn't cause the problem either, but i don't stand here saying that my salary shouldn't go down. megyn: she's suggesting that the teachers are earning less -- >> the real question is can we afford right now -- one of the things that's not part of the discussion is the pension problem. we laugh a $3 trillion unfunded state pension problem and $500 billion municipal pension problem. i don't know how we'l...

Off. the mayor of chicago said that we ought to bankruptcy the chicago pension problem. megyn: even governor spitzer has said that -- >> governor cuomo. megyn: excuse me. i like this point, because i've been trying to make this. i want to ask you. yes, there were two parties at the bargaining table. it's not just like the unions got to say, this is what we get. there was another party on the opposite side of that table that gave it to them. elected officials. one the criticism is that it's really the two parties were aligned because the unions put that democratic governor who gave them the dea...

Finance, insurance, and real estate. that starts with town mays are in the small towns, the governors on the state level, senators, house of representatives up to the president who took a million from goldman sachs. families, depressed mothers, emasculated fathers, and people who have set out to try to help in their communities, firefighters, cops, judges, and teachers, the lives of those people and the breaching of the culture of fairness that this country was founded on is of no value to these people. they are totally concerned at preserving the campaign donations they get from finance, 40% ...

The future >> what our politicians don't want to talk about, they need to accept slower goethe in health care and pensions if we're going to free up the money to do the r&d and infrastructure and those trade-offs are what politicians don't wantç to talk about. >> what tif they came in and said, we have employee-based monopoly health care and fee for service. so we'll break that, get rid of free for service, drop your health care costs, pension problem solved, and now, brent, i'm investing money in infrastructure. why can't we just do this? >> we just went into a whole new show. i think we ne...