Andy Biggs actually said...

"I think Congress needs to act today."

"Illinois may look maybe a little bit further. But they need to find ways to get on top of these problems."

"Ultimately, you may default to your bondholders. Beyond that, it is really, really a tough decision."

"If we are going to bail out underfunded or, you know, pensions for truckers and miners, are we not going to bail out Illinois' policemen and teachers?"