Watchdog: Illinois fiscal health 2nd worst in nation

Watchdog: Illinois fiscal health 2nd worst in nation

• Illinois politicians have too often ignored the necessity of true pension reform and instead opted for tax hikes.

A government accounting watchdog has slapped Illinois with an F grade in finances, ranking the state’s fiscal health second worst in the nation.
Truth in Accounting’s annual “Financial State of the States” report ranks Illinois 49th in the nation for fiscal health, earning the designation of “Sinkhole State.”
...Chicago ranked worst in the nation, with each Chicago taxpayer on the hook for nearly $120,000.
Unsurprisingly, pensions were also the biggest chunk of city taxpayers’ debt burden..."
Read on.