Here’s why you should be worried about state and local pensions – Morningstar

“Unfunded public pension obligations represent the largest liability for state and local governments in the United States,” Giesecke and Rauh point out. To give you some perspective, a $6 trillion pension fund deficit is twice the value of all the money that state and local governments owe on their municipal bonds. It is about 170% of their total annual revenues. And it is 10 times the amount they took in last year from personal (non-corporate) taxes.

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Illinois Is Poised to Pass a Huge Win For Workers – Mother Jones

Amendment 1, also called the Workers’ Rights Amendment, makes collective bargaining a constitutional right that can’t be legislated or contracted away. It goes further than any state ever has in barring right-to-work laws—and any other legislation that “interferes with, negates, or diminishes the right of employees to organize and bargain collectively.”

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