The State Of Illinois Is “Past The Point Of No Return”

The State Of Illinois Is “Past The Point Of No Return”:

“The State of Illinois is past the point of no return. It does not have the ability to raise taxes or cut spending to the degree necessary to reduce the annual cost of bond and retiree benefits from 33% to a sustainable level…The insolvency is not the result of too much bonded debt, but rather the government promising retirement and other post-employment benefits that aren’t affordable.

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