The top 10 biggest U.S. cities on the brink of pension bankruptcy. #1 Philadelphia – Unfunded liability of $9 billion, $16,696 per household, only 1 year before the pension accounts are empty #2 Chicago – Unfunded liability of $44.8 billion, $41.966 per...
Ten U.S. states have public pension liabilities that are at least as big as their annual revenues, according to a Moody’s Investors Service report released on Thursday that found the Illinois pension bill was equal to 241 percent of its revenues. …...
Moody’s Investors Service has downgraded to A3 from Aa3 the rating on the City of Chicago’s (IL) $181 million of outstanding rated motor fuel tax debt. The outlook has been revised to negative. via Moody’s. Surprises no one. Barely qualifies as news...
Illinois broke federal securities laws in misstating the true health of the state’s depleted pension funds when going out onto the bond market between 2005 and early 2009, the Securities and Exchange Commission announced Monday. … The finding of...
I found this while at the Khan Academy. [youtube http://www.youtube.com/watch?v=Tczu_dvVuuk]
