Fresh Cracks in the Blue State Model
29th November 2013
Illinois copyKeep your eyes on Democrat-run Illinois over the next couple of weeks, where legislative leaders have hammered out a scheme to address the crisis of the state’s underfunded public employee pension scheme. The unfunded liability for the state’s pension obligations is officially estimated somewhere around $100 billion over the next 30 years, but the actual figure is likely much higher as Illinois, like many self-serving public pension funds, still assumes very optimistic rates of return on assets going forward.