More Bad News on the Pension Crisis
June 27, 2012 § 1 Comment
If I was Rahm I would so totally throw Daley under the bus on this issue.
The debt from 10 Chicago-area pension plans swelled more than 600 percent to $27.4 billion between 2001 and 2010, according to a study released Monday by the nonpartisan Civic Federation. That’s $8,993 for each man, woman and child in Chicago, according to the report.
The shortfall comes on top of more than $83 billion in unfunded pension liabilities at the state level, driving the cost up to nearly $15,000 per Chicagoan, the report shows.
via chicagotribune.com.
Shear insanity.
between state and federal debt its a little crazy