Drivers of Illinois budget shortfall

[CBradSmith]

What's the fallout of this?

Could there be a case where states are betting on Federal bailouts for their underfunded liabilities?

https://www.illinoispolicy.org/reports/whats-driving-illinois-111-billion-pension-crisis/

 

[windriverrange]

It's all about votes....we (scumbag politicians) vote you generous retirement benefits and they (public workers who retire in their 50's) kept voting for them

The bigger problem facing Illinois’ five state-run pension funds is the unaffordable pension benefits politicians have given away to government workers and government unions over the past several decades.

Can't imagine the morons in DC would give them any bailouts!

 

[JimmyBob]

Can't imagine the morons in DC would give them any bailouts!

Barry and Cankles damned sure would, and I'm not too sure about the rest.

 

[shortbus]

Wait, a union dominated state with pension problems?

Well that can't be!

 

[aix_xpert]

What's interesting is that if it weren't for the Fed's desire to artificially drive the economy by constantly lowering interest rates until they reached zero, these pensions wouldn't be nearly as under-water as they are.