While it may be difficult to understand why cities and even entire states would doom themselves to insolvency by undertaking these obligations, the answer is simple: Democratic politicians, who have near-total political control of California and of America's biggest cities, support this massive transfer of wealth to public employees.

I've got three little kids at home, and I'm trying to save this country from itself. I'm not here to play political power games, and I've had enough of people playing political power games, and this has just gone on too long.

To stabilize the nation's public-employee pension systems and to prevent federal taxpayers from being billed for failed pension funds, I have introduced the Public Employee Pension Transparency Act in Congress.

It's important to be honest and truthful with your constituents. At the end of the day, we represent them.