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
Illinois needs to enact structural spending reforms to avoid following Puerto Rico down the path to insolvency.
If the White House wants to give Puerto Rico the right to bankruptcy, it should extend the option to all states and territories.
For Greece and Puerto Rico, avoiding sustainable solutions has lead to fiscal ruin. When will Illinois’ lawmakers stop whistling past the graveyard?
Too bad Puerto Rico isnt a state. If it were, Puerto Rico, and not Illinois, would have the nations worst-funded pension system and the countrys worst credit rating.