Record-breaking borrowing to fund Illinois' even more massive pension debt is no real solution to the state's pension problem.

Illinois’ bonds are currently priced like they are junk-rated.

Bailout bills moving in the Illinois General Assembly would attempt to turn Illinois’ massive debt problems into guaranteed profits for banks and bondholders and a lower standard of living for other Illinoisans.

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.