Fiscal Crisis in Chicago: Pensions 31% Funded, Moody's Downgrades Debt 3 Notches, Pension Liability is $61,000 Per Household; Mish's Proposed Solutions
MishTalk
SEPTEMBER 17, 2013
Chicago taxpayers are on the hook for more than $63 billion in pension, health insurance and other debt. Chicago Public Schools closed nearly 50 schools this year, forcing children and families to travel across gang lines. That’s the total debt of the city and its sister governments, as well as Chicagoans'' share of Cook County debt.
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