Chicagoans are still paying for unfunded liabilities from the past – Opinion – Crain’s*

"Even after the recent increases, current taxes are not sufficient to pay the growing pension obligations. It's time for Chicago's leadership to level with taxpayers about what's coming."
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Aaron
4 years ago

Illinois has already spent what children born in 2040 will never pay off.

Pensions Paid First
4 years ago

That’s what happens when you have debt. Pay your bills.

JimBob
4 years ago
Reply to  Mark Glennon

Bondholders probably get disclosure with enough disclaimers that the fraudsters can’t be sued. Or (if sued) they’re either immune or uncollectable. Taxpayers probably lack standing to sue but, even if they could, the fraudsters are immune or uncollectable. A few governors and mayors have gone to jail but generally due to accepting or soliciting bribes. By now the fraudsters are smart enough to build a file of reliance upon actuaries etc. And if prosecutors won’t go after arsonists and murderers what hope is there of finding one who will protect the public from securities fraud or lying to voters —… Read more »

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