Is this just the state pension debt? Would the city of Chicago need to levy its own additional tax to pay its pension liabilities??
What about literally every governmental unit in Illinois, with their own obligations, over and above the state obligation????
Chicago has their own Teacher retirement system not connected to the State of Illinois Pensions. Chicago alone is hundred’s of millions in teacher pension debt + the billions of Illinois debt. No way will these bills be paid off in 30 years.
Rush said this is meant to cover only 6 of the 350+ public pensions in Illinois.