Tag Archives: Pension Debt

Debt Option #3: Bankruptcy

BANKRUPT: bank·rupt  /ˈbaNGkˌrəpt/ adjective: bankrupt (of a person or organization) declared in law unable to pay outstanding debts. . By all conventional measures, Illinois is bankrupt. The State Supreme Court would disagree, having said in its decision to strike down … Continue reading

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It’s Not the Pension (Entirely), It’s the Debt

“If something cannot go on forever, it will stop.” – Herbert Stein’s Law In his budget address this week, Governor Rauner made big news by proposing that the employer portion of the normal costs of teacher pensions be shifted from … Continue reading

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