Jacqui Lambie vows to oppose Senate bills, page-37

on the news, there was a story about detroit - a city that was broke , with billions in debts.... full story

http://www.theguardian.com/us-news/2014/nov/07/detroit-exit-bankruptcy-debt-financial-plans

anyway, as part of saving the city, retirees (probably ex workers of the city) had to accept a cut to their retirement benefits.. from the link

Detroit declared insolvency on 18 July 2013, weighed down by an estimated $18bn of debt. Initially the city faced furious opposition from retirees and unions after proposals that would have slashed retirement benefits and healthcare provisions.

in the end, if there is no money, there is no money - just ask greece. and keeping on borrowing is not the solution