Why Illinois Is In Trouble – 109,881 Public Employees With $100,000+ Paychecks Cost Taxpayers $14B

[mystery-ak]

Apr 27, 2020,12:42pm EDT
Why Illinois Is In Trouble – 109,881 Public Employees With $100,000+ Paychecks Cost Taxpayers $14B

Adam Andrzejewski



Illinois 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.

In many ways, Illinois may have already crossed the Rubicon.

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.

more
https://www.forbes.com/sites/adamandrzejewski/2020/04/27/why-illinois-is-in-trouble--109881-public-employees-with-100000-paychecks-cost-taxpayers-14b/#1e966e687ee9

[EdinVA]

But not in Illinois; almost all government workers – including teachers, police officers and those who serve in state government – are required to pay money to a union to keep their jobs.

https://www.illinoispolicy.org/reports/the-anatomy-of-influence-government-unions-in-illinois/

End of rant... lol