Illinois owes $1 billion on borrowing from last year, Pritzker plans to borrow billions more next week – Center Square

Illinois’ backlog of unpaid bills as of Thursday was $7.8 billion.
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Alphabet Soup
5 years ago

Looks like an 11th hour income tax hike on individuals and businesses is forthcoming in the lame duck session…ugh

Heyjude
5 years ago

Margaret Thatcher was right, sooner or later you run out of other people’s money.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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