"llinois could soon be the first state in history to have its bonds rated as “junk.”
Last month, both Moody’s MCO and Standard & Poor’s downgraded Illinois debt to just one notch above junk status.
Last week, the Illinois State Senate President Don Harmon (D-Chicago) wrote a letter to Congress requesting a $41.6 billion bailout.
Critics balked.
Critics balked.
...Our analysis at OpenTheBooks.com shows that an Illinois family of four now owes more in unfunded pension liabilities ($76,000) than they earn in household income ($63,585).
In a state of 13 million residents, every man, woman, and child owes $19,000 — on an estimated $251 billion pension liability.
Our auditors discovered 110,000 public employees and retirees who earned more than $100,000 last year.
We found tree trimmers in Chicago making $106,663; nurses at state corrections earning up to $277,100; junior college presidents making $491,095; university doctors earning up to $2 million; and 111 small town managers who out-earned every governor of the 50 states ($202,000).
Our interactive mapping tool allows users to quickly review the 110,000 public employees and retirees across Illinois making more than $100,000 (by ZIP code). Just click a pin and scroll down to see the results in your neighborhood rendered in the chart beneath the map.
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