All across the country, states are grappling with pension funds that are massively underfunded. Under new accounting rules, Illinois’ unfunded pension debt stands at a whopping $209 billion. And that’s not counting the debt for retiree health insurance, pension bonds or all local retirement debt. Recent calculations have put the total level of states’ unfunded pension...

The Illinois Policy Institute launched

Bailout of state pensions would force taxpayers in prudent states to pay for fiscal irresponsibility of Illinois, California

U.S. Sen. Jim DeMint (R-South Carolina), the Senate

Sen. Jim DeMint (R-S.C.) and other conservatives said today that it would be a mistake for the federal government to consider bailing out states that are in danger of defaulting on massive pension liabilities.

A specter is haunting Illinois