Chicago, land of debt, Daleys, gun deaths, and dysfunction.
Below, a classic case of crony state employees killing the golden goose.
All these states with giant unfunded state pension liabilities are waiting, hoping for a president who will bail them out with taxpayer money.
Credit ratings agency Moody’s Investors Service released a report Aug. 27 comparing unfunded pension liabilities across all U.S. states. According to the report, Illinois’ unfunded pension liabilities grew 25 percent in fiscal year 2017 to $250 billion. That equates to 601 percent of “own source” revenue, meaning money brought in by the state excluding federal funds.