From the City Club of Chicago, Sen Heather Steans (D) joins Laurence Msall of the Civic Federation and Adam Schuster of the Illinois Policy Institute, as they cover the depth of the Illinois money pit known as publicly funded pensions.
What is clear from this discussion is that the state has failed to defuse the pension bomb, with every year the payments needed from state revenues to pay for pensions are draining the state’s ability to pay for education, police and emergency services, and the very functions of government that citizens expect a state to provide.
Is there an answer that can stop the pension debt bomb from destroying the state’s financial future?
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