Think California is in the worst financial shape of any state in the US? It would be but for Illinois--
Governor Quinn Issues Statement on Critical Need for Pension Reform: ""Illinois has an unfunded public pension liability of $83 billion – the worst in the nation.
“Each day we wait to enact comprehensive pension reform, the problem gets worse. The unfunded liability will grow to more than $92 billion by the end of next fiscal year. Illinois is currently on track to spend more on pensions than education by 2016 . . . . "
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Over at the SubStack in the Last Week...
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