"CHICAGO — Illinoisans are on the hook for nearly $250 billion in unfunded public pension liabilities — more than $18,000 per resident — according to a credit rating agency. That's the latest estimate from Moody's Investors Service, which on Tuesday put Illinois' unfunded pension debt at $240 billion. Sep 19, 2019"



$18,000 per resident! And that includes both income tax paying AND non-income tax paying residents. Which means the debt for those that will actually pay for this mess is much higher. But the reality is that there is no way that the bulk of that money will ever be able to be collected. I mean, come on, who on earth believes that Illinois residents will be able to pay an additional $18,000+ each in taxes the next few years. It is just not going to happen. And the consequences will be catastrophic, particularly for the pensioners.

And it is particularly mind boggling that the vast majority of the new taxes are being spent in new ways. They are not going towards the debt already accumulated.

And for those interested in this kind of thing, check this out:
https://www.usdebtclock.org/