"There is never a shortage of evidence of the decline and fall of Illinois.
Just a week after I authored Tales from the Illinois Exodus–Part One in this space, I already have a second entry.
...What is not being discussed by the candidates is the pension bomb.
Forbes points out that the Teamsters/Central States’ pension plan, which is funded at 38 percent, is projected to become insolvent in 2025.
Sure, Chicago, unlike the Teamsters, can raise taxes, and it has been doing so to fund these pension obligations, but Chicago is the only large American city losing population.
More tax hikes will likely accelerate the exodus.
...One more item.
Last week Alderman Willie Cochran became the 35th member of Chicago’s Hall of Shame, which consists of members of the City Council who have been convicted of federal crimes–or pleaded guilty to them–since 1973..."
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