Is it good news or bad news that Pritzker has rejected a Chicago pension bailout?

7 thoughts on “Forbes post, “Whew – Illinois Is (Probably) Not Going To Bail Out Chicago’s Pensions”

  1. Enjoyed your article.
    One thing I thought was missed was the fact that Illinois is RAPIDLY DEPOPULATING!
    In the last 4 years, Illinois’s population has dropped by nearly 160,000. I think its entirely possible that Illinois could lose up to 500,00-600,000 more people in the next 8-10 years.
    Is assumed population loss, used in the current actuarial calculations?


  2. There will be neither a Constitutional Amendment nor any reduction in benefits, nor will any Federal Judge allow Chicago or Illinois to declare bankruptcy of any type. You may be a great actuary, but you do not understand the politics or the law. Both Chicago and Illinois will be forced to raise taxes and cut services. A fifth-grader can fix this problem; it’s just not politically popular to stand for higher taxes and service cuts. Only a wealthy guy like Pritzker can dare attempt this. Madigan will be the useless tool in the way forward, it’s not the demand that the workers get what they bargained for.


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