,,iv  #aacth ,,congress  #ast ,session  
,h4 ,,res4 #aag  ,,in ,,the ,,house ,,of
 ,,representatives  ,march #ad1 #bjac   
,mr4 ,chaffetz submitted the following  
resolution2 which was referred to the   
,committee on ,education and the        
,workforce  ,,resolution  ,expressing   
the sense of the ,house of              
,representatives that the ,federal      
,government should not bail out ,state  
and local government employee pension   
plans or other plans that provide       
post-employment benefits to ,state and  
local government retirees4  ,whereas the
 ,federal ,government is operating at a 
huge annual deficit and is rapidly      
increasing its outstanding debt every   
year2 ,whereas the ,federal ,government1
 as of ,december #bjab1 is carrying more
 than #af4j trillion in debt1 of which  
#aa4f trillion is owed to the public and
 #d4h trillion is owed to ,social       
,security and other trust funds2        
,whereas the ,federal ,government       
borrowed #ca cents for every dollar it  

spent in #bjab2 ,whereas foreign        
governments1 individuals1 and           
corporations as of ,september #bjab own 
#dh percent of ,federal debt owned by   
the public2 ,whereas ,social ,security's
 unfunded liabilities in #bjab are #h4f 
trillion over #ge years and #bj4e       
trillion over the infinite horizon2     
,whereas the ,federal debt is expected  
to increase by more than #f trillion    
from #bjac to #bjbb according to the    
,congressional ,budget ,office2 ,whereas
 ,state and local governments are       
heavily dependent on ,federal revenues2 
,whereas more than #af percent of the   
entire ,federal budget goes directly to 
,states and local governments2 ,whereas 
more than #bj percent of total ,state   
and local government general revenue    
comes from the ,federal ,government     
according to ,census ,bureau's latest   
,annual ,survey of ,state and ,local    
,government ,finance2 ,whereas numerous 
,state and local government employee    
pension plans have offered overly       

generous retirement benefits to its     
employees and are in dire financial     
situations with combined unfunded       
liabilities up to #d4d trillion2        
,whereas many ,state and local          
government pension plans have           
understated liabilities and overstated  
asset growth rates and have employed    
methodologies that private sector plans 
are prohibited from using by ,federal   
law2 and ,whereas several ,state and    
local pension plans are expected to     
fully exhaust their funds within ten    
years3 ,now1 therefore1 be it  ,that it 
is the sense of the ,house of           
,representatives that--  7#a7 the       
,federal ,government should not bailout 
,state and local government employee    
pension plans and other post-employment 
benefit plans2 and  7#b7 ,state and     
local governments should immediately    
institute reforms to their employee     
pension plans1 including replacing      
defined benefit plans with defined      
contribution plans4