With one proposal to pay off Illinois’ pension debt asking the typical homeowner to pay more than $1,900 in additional property taxes for the next 30 years, the stakes for pension reform have never been clearer.View Report
The most recent round of city borrowing is a sign of things to come.
State lawmakers and the city of Chicago owe taxpayers an honest assessment. It's a sad state of affairs when we have to get that assessment from a bond guru in Kentucky.
For governments like the ones in Stockton and Illinois, government worker pension plans need ambitious investment returns of nearly 8 percent year in and year out to fund the overly generous benefits officials have handed out