Chicago & state of Illinois pension crisis

America's pension house-of-cards is getting flimsier year by year. D-day is getting closer and closer.

Financial analyst have been warning us for years that the country's pension system is a ticking time bomb.

Wonder if barry(aka you & I, the taxpayer) is gonna bail out his thug buddies in Chicago?

quote:

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Calling the Chicago pension crisis the worst in the nation is saying something - like, how bad can it get?

The city's underfunded pension system for teachers, firefighters, police, and transit workers threatens to punch a hole in the city budget that would devastate city services. The teachers' alone are $1 billion short of funds, while the city as a whole is looking at a whopping $27 billion shortfall.

The state of Illinois is even worse off with more than $100 billion in unfunded pension liabilities. Where is the money going to come from to fix the problem?

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