crisis. none of the tough decisions will be made together by both parties. no constructive dialogue until a looming deadline. just like in the lame duck because we re on a bail-out path. after 2008, there is a reflective bail-out mentality. who is the person that will start the debate heading it off. we have pending crisis in the state and how is the congress going to try to head this off? say before you come to us with the houses op fire, wait a minute. we re going to come up with a plan and there is a debate over whether or not to allow the states to file for bankruptcy. a lot of conversations beginning. i hope we have a strong push, not to be proactive or reactive about the crisis. shannon: charles, we have seen california representative nunes try to tackle this, pushing for transparentsy with the public employee pension.
reporter: as 2010 comes to an end, 2011 may bring renewed focus or bush from uncle sam to get pension plan in order. according to a study, california pension plan is unfunded by $55 billion. illinois, $54 billion. pennsylvania, $13 billion. part of the problem according to the economists is states don t set aside enough money to fund generous mention plans. count on stocks and other investments to come through with the cash which doesn t man out in tough economic times. totals are staggering. the unfunded liability according to the state is $452 billion, it s closer to $3 trillion when you get accounting right. one g.o.p. member of congress, devon nunez introduced legislation requiring state make public cost of the pence plan and the ability to meet cost. this is not an attack on
the union. this is not an attack on public employees. trying to state the obvious. he says he s trying to prevent states coming for a bail-out but union leaders say congress should stay out of it. there are instances where states may well promise more than they can deliver, but the answer is not in washington. the answer is in state, state capital sponsoring the benefit. pensions are as ironclad as contracts. states will have to make the papeful tradeoffs to pay them out. cutting money from schools, public safety and core services. in washington, molly molly henneberg, fox news. shannon: chief washington correspondent jim angle reports the mounting red ink is making republicans to put the red light on any more spending by the government. republicans see cutting
the discussion, as if he hasn t been in office two years. i know they talk about the energy spending but the amount that he has, in his administration, together with congress has increased deficits is historic. the republicans propose this and it is viewed as reactionary or crazy. we can t possibly do that. that is a modest proposal, actually. tapering on the margins. i think the politics of this are going to be very interesting. because you have particularly in the house, a number of peop people, a couple dozen people brought in as part of a tea party movement or tea party republicans who have said, we re going to stop spending. i am going to washington to stop flow of government.
shannon: now fresh pickings from the political grape vip. we reported monday that clinton will campaign for rahm emanuel in his bid for mayor, but that was not welcome news from davis who is also running and warped clinton backing emanuel would hurt his former relationship with the african-american community. he is concerned that clinton would come to up to and thwart the political aspirations of chicago s black community. this is a response congress inability to pass a