4 ms·
In some cases that may be true - in Illinois it is the other way around. Illinois has shown that it will willingly take from the people in order to pay current
by MR4D 9y ago
In some cases that may be true - in Illinois it is the other way around.
Illinois has shown that it will willingly take from the people in order to pay current as well as deferred payments to government workers. Below is a link to an article and research that shows that Illinois was far above normal government pay.
From the article below, I quote, "Not only do state workers in Illinois make more than the private-sector workers who pay their salaries, the average pay for state workers in Illinois is out of step with their peers in the other 49 state."
ARTICLE: https://www.illinoispolicy.org/press-releases/state-government-workers-in-illinois-highest-paid-in-the-nation-illinois-policy-institute-report/ https://www.illinoispolicy.org/press-releases/state-governme...
RESEARCH PAPER: https://d2dv7hze646xr.cloudfront.net/wp-content/uploads/2016/05/AFSCME_cadillac-benefits.pdf https://d2dv7hze646xr.cloudfront.net/wp-content/uploads/2016...
My best guess is that Illinois will default (in some manner) on these pensions. The next recession, combined with net population drop, will doom the state's finances beyond repair if they aren't already too far gone.
I'd also recommend looking through this to see how negligent their political leaders have been over the years:
http://www.pewtrusts.org/en/search?q=illinois%20pension http://www.pewtrusts.org/en/search?q=illinois%20pension