Why not? It's working fabulous for Detroit.(it really is!)-------Why Illinois should file for bankruptcy

Prove you're fiscally criminal and the federal (and state) moolah comes rollin' in!
Why Illinois should file for bankruptcy | Rare
From the more than 1,000 politicians (including three former governors) convicted of corruption, to the virtually-insolvent defined-benefit teachers pension that is likely underfunded to the tune of $76 billion, Illinois is in deep trouble. 
So fiscally feckless is the Land of Lincoln is that it makes California seem financially responsible in comparison.
Prairie State politicians are actually attempting to make some fiscally-sensible decisions to whittle down its pension and retired civil servant healthcare liabilities.
Those efforts are being successfully opposed in the courts by public-sector unions such as the American Federation of State County and Municipal Employees and affiliates of the nation’s Big Two teachers’ unions.
The most-likely solution for Illinois to finally address its long-term burdens – and force public-sector unions to agree to them – is to follow the example set by woe-begotten Detroit last year and file for bankruptcy protection.