I’d say that Illinois’ problems are worse then they look, because people are simply leaving the state. And the people who are leaving are being replaced (somewhat) by people who earn much less. This is not helpful to any plan to get out of the mess.
I suspect CA and NY are worse than they seem. You can play games on pension investment return rates and future expected contributions.
The people leaving Illinois and New York are the productive.The welfare addicts aren’t going anywhere.
I’d say that Illinois’ problems are worse then they look, because people are simply leaving the state.
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There are Illinois license plates all over Florida. Lots of them are snow birds, but many will probably decide to stay there.