Illinois Failed State. @RichardAEpstein, @HooverInst.

Jun 17, 2016, 04:14 AM

06-16-2016 (Photo: #Illinois Speaker of the House Michael #Madigan, D-Chicago, speaks to reporters before) http://JohnBatchelorShow.com/contact http://JohnBatchelorShow.com/schedules http://johnbatchelorshow.com/blog Twitter: @BatchelorShow

Illinois Failed State. @RichardAEpstein, @HooverInst.

“…But it never quite works out that way. Today, the state’s unfunded pension liabilities have increased to nearly $100 billion with no relief in sight. The situation becomes only worse considering that the 1970 Illinois Constitution contains an explicit provision under which every pension obligation “shall be an enforceable contractual relationship, the benefits of which shall not be diminished or impaired,” which this past March led to striking down state legislation to modify the annuity benefits for current and future workers, without their consent…

http://www.hoover.org/research/illinois-fiscal-brink?utmsource=hdr&utmmedium=email&utm_campaign=2016-06-14