If you know anyone that lives in Chicago or Illinois - Please pass this information to them so they can decide if they want to move while times are still "good".
Most of you know how brutal it was in Chicago last week with temperatures well below zero and outlandish wind chills that made Antarctica seem mild.
It may be a bit ironic that Chicago based Truth in Accounting released their latest Financial State of the Cities report last week as well... and that information was just as chilling.
63 of America's top 75 cities are broke. Chicago came in #2 (NYC being the winner - or is that loser) with obligations of $36k per resident.
TIA's most recent report on States show Illinois at #3 with Massachusetts and Kentucky being the top 2. Illinoisans are on the hook for nearly $51k each.
Those are the amounts that would have to be collected today and invested (earning interest) just to meet pension and healthcare promises (assuming assumptions are valid).
That's why there's already an Exodus from Illinois (which reduces the taxpayer base and makes the whole situation worse).
For Chicago, their combined state and local obligations amount to $85,600 per person. Congratulations Chicago - you're the brokest city in America.
For further details click here.
Most of you know how brutal it was in Chicago last week with temperatures well below zero and outlandish wind chills that made Antarctica seem mild.
It may be a bit ironic that Chicago based Truth in Accounting released their latest Financial State of the Cities report last week as well... and that information was just as chilling.
63 of America's top 75 cities are broke. Chicago came in #2 (NYC being the winner - or is that loser) with obligations of $36k per resident.
TIA's most recent report on States show Illinois at #3 with Massachusetts and Kentucky being the top 2. Illinoisans are on the hook for nearly $51k each.
Those are the amounts that would have to be collected today and invested (earning interest) just to meet pension and healthcare promises (assuming assumptions are valid).
That's why there's already an Exodus from Illinois (which reduces the taxpayer base and makes the whole situation worse).
For Chicago, their combined state and local obligations amount to $85,600 per person. Congratulations Chicago - you're the brokest city in America.
For further details click here.
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