LOL, good luck in Illinois when the state pension funds finally fail and taxes go through the roof:
Quote:
The recent passage of the deadline for ballot initiatives on May 3rd means that the state cannot do meaningful pension reform on its own until 2023 at the earliest without federal intervention, which implies that Illinois’ underfunded pension will need to be fixed in the context of a state bankruptcy.
When these negotiations conclude the state will have top income tax rates approaching ten percent and everyone, rich or poor, will be paying more in income taxes, sales taxes, property taxes, tolls and fees than they are now. The public pension cost-of-living adjustments will likely go down, the health care benefits for public sector retirees will be less generous, and Chicago—along with the other communities in the state—will enact their own tax and spending reforms.
While the state may have enough in its pension coffers to go on for a few years, and remains adept paying bills with IOUs and increasingly pricey debt to get through another year while pretending to satisfy its constitution’s balanced budget requirement, this game will end as soon as investors realize they don't want to be owning Illinois debt while waiting for the music to stop.
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https://www.forbes.com/sites/ikebran.../#3636a7503550