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 Public Schools closed nearly 50 schools this year, forcing children and families to travel across gang lines. You can view the entire report at The hidden bill: Chicago taxpayers and the looming crisis. That’s because the municipal bond market depends heavily on Moody’s ratings when investing in Chicago bonds.
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