“Last year, the district's budget was about $10 billion, and it picked up about $300 million in pension costs,” said Danny Vesecky, senior research and policy associate at the Civic Federation.
The unfunded public sector pension debt is chocking the life blood out of Chicago and Illinois. No new businesses want to come and pay off debt they had nothing to do with. More and more businesses and people are voting with their feet. Soon only the rich public sector worker and the poor immigrants will be left in Chicago. It will have some of the highest taxes and lowest quality services which will only encourage more people to leave the state. Death by Public Sector Greed.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
The unfunded public sector pension debt is chocking the life blood out of Chicago and Illinois. No new businesses want to come and pay off debt they had nothing to do with. More and more businesses and people are voting with their feet. Soon only the rich public sector worker and the poor immigrants will be left in Chicago. It will have some of the highest taxes and lowest quality services which will only encourage more people to leave the state. Death by Public Sector Greed.