23/10/2020 · This Is How A State Goes Bankrupt, Illinois Edition. by John Rubino October 23, 2020 38 Comments. Somewhere back in the depths of the 20th century, a bunch of governors, mayors, and public sector union leaders got together and cooked up one of history’s greatest financial scams. They would offer teachers, cops, and firefighters extremely generous ...

01/03/2019 · Discussion: Illinois officials consistently say that despite its deep financial problems, the state isn’t going to declare bankruptcy; partly because there is no law allowing a state to declare bankruptcy. And partly because bankruptcy for a state is unnecessary. Even if there was such a law, state officials say they would not use it.

18/01/2013 · The estimated shortfall of nearly $100 billion between now and 2045 is, believe it or not, a rosy scenario, given that a) it assumes robust investment returns and b) doesn’t include local pension disasters, like the estimated $20 billion hole in the City of Chicago system.

16/06/2017 · A financial crunch is spiraling into a serious problem for Illinois lawmakers, prompting some observers to wonder if the state might make …

05/06/2020 · Illinois Will Be The Poster Case For State Bankruptcy. Ike Brannon. Contributor. Opinions expressed by Forbes Contributors are their own. Policy. Ike Brannon is a senior fellow at the Jack Kemp ...