Re: Illinois is broke(n) ...
I believe no state is allowed to declare bankruptcy. Or put into receivership.
Illinois pension issue is a problem in that it seems the state constitution forbids changes so they have to make due on that bill someday. Rhode Island had a similar problem but the state court ruled that they could change the pension due to the shortfall it was facing, which made a name for the Treasurer at the time who's now RI's governor.
Originally posted by Kepler
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Illinois pension issue is a problem in that it seems the state constitution forbids changes so they have to make due on that bill someday. Rhode Island had a similar problem but the state court ruled that they could change the pension due to the shortfall it was facing, which made a name for the Treasurer at the time who's now RI's governor.
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