The Illinois Constitution specifically protects public pensions.
Long story. Some other day.
Illinois is stuck. And the federal solution suggested here would violate the federal Contracts Clause.
Don’t elect Democrats.
Yes, but it does not have any provision for them printing money to pay the pensions.
Illinois is stuck. And the federal solution suggested here would violate the federal Contracts Clause.
I predict bankruptcy.
Although there is a second possibility--White flight. As tax rates rise anyone who can move out will, leaving behind something like Detroit. When we get to the point that they can legitimately complain that downtrodden Blacks are being overtaxed to pay the pensions of old White men, a loophole in the Illinois constitution will be found.
Right. Even the plan that (former lib / dem Gov.) Quinn got pushed through to try to get partial control of State pensions got shot down in court. "Unconstitutional".
Illinois is screwed beyond belief.