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A federal judge who ruled earlier this month that a bankrupt California city's pensions can be cut like any of its other debts is set to consider a contested exit plan that doesn't contain pension cuts on October 30. U.S. Bankruptcy Judge Christopher Klein ruled on October 1 that Stockton's pension obligations aren't more sacred than any other debt the city owes, clearing the way for potential cuts. But city leaders argued in court that they don't want to cut pensions, fearing that cuts would impact the city's ability to retain and recruit workers. Comment?
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