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Because the economy is better. >> what are the cities? >> chicago. it has fairly large pension responsibilities. it has as steve says has great advantages. the economy is great. philadelphia is looking at the same thing. couple of towns and cities. stockton, california. >> whole state of illinois has funded its pension plan by 45%. it's basically an intergenerational thing. >> there are a lot of very creative ideas that could be applied just to detroit. the people on the right and left you can create one jack kemp style. you can give incentives to immigrants. move to detroit. there are things ...

Charlie rangel says he's the victim and he's now suing, speaker janer and a group of six other bipartisan lawmakers to overturn his sentence. he claims he's due his process rights. remember the president asked him to resign? >> steve: sure. governor rick perry has a message for business owners in illinois. get out while you can. >> you need to get out while you can. the escape route leads straight to texas. >> steve: the republican governor in illinois to lure businesses to his state. he pointed out the state's high taxes and pension problems in illinois. this all lead to go a war of words wit...

California cities, san bernardino mammoth lakes. they could go the chapter 9 bankruptcy route to get out from under their pension problems. you mentioned the bondholder problem. that is huge problem to people that lent money to cities like stockton because they will take a haircut. they may get less money back than they actually put in. that is the first time that ever happened. so there is precedent on two fronts. the bond holders, they lose and maybe the pensioners, certainly the pension fund, that will lose and the ripple effects are spread out all across the country, certainly across calif...

Bob, this is a scary, scary thing going on in california. cities going bankrupt. >> bob: it is. >> eric: other thing to point out because of the pension problems -- >> bob: let me make a point. the united states is not bankrupt. you included that, that was cute to do that. as usual, that was a bankrupt statement. look, the cities were in trouble before obama got in office. the big question in my mind who covers the debt when they go under? you got pension, right. is there a federal group -- >> dana: the pension control board. that is more -- i don't think it covers cities. this, i think one of...

good evening. i'm john avalon in for erin burnett. "outfront" tonight, new jobs number and the predictable partisan spin cycle. the economy added only 120,000 new jobs in march. that's 100,000 less than last month. the good news, the unemployment rate fell to 8.2%. that's the lowest since february 2009, one month after president obama took office. and not surprisingly, republicans wasted no time in attacking the white house. mitt romney called it a weak and troubling jobs report and said, "millions of americans are paying a high price for president obama's economic policies." now, do...