Outside experts size up Illinois pension mess: twice as big as the state admits — WirePoints Original
“A nation of sheep will beget a government of wolves.” Edward. R. Murrow December 9, 2012, Updated January 9, 2012 A primary reason for the fiscal calamity in Illinois is sheepish acceptance of the state’s narrative about pensions. The official unfunded liability of the five state guarantied pension funds — the key number in the narrative — is $96 billion, a number repeated endlessly and mindlessly by most of the media and some “pension reform” groups. It’s nonsense. [Update: The first two of the sources below lump in local unfunded pension liabilities with the state’s. However, the Illinois Policy