The city of Stockton, California officially went bankrupt yesterday. Instead of concern for what that might mean for its residents in terms of services and their quality of life, Fox predictably focused on one thing: public pensions. And, instead of doing any kind of real analysis of the pension issues, or delving into the pushy behavior of the Wall Street creditors, Stuart Varney suggested the whole problem is due to slacker public employees living high on the hog for decades after just a brief stint of work.

 

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