“Two weeks after the modest pension cuts that the Illinois legislature passed with much kicking and screaming comes the realization that the state has barely even begun to deal with its toxic fiscal problems.”

“Meanwhile, a thousand miles to the southwest, there seems to be a model…. Lawmakers [in Texas] are apparently looking to address this issue in the next legislative session, four decades ahead of schedule.”

via A Tale of Two Pensions: Illinois vs. Texas – The American Interest.