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Illinois’ financial decay spreads to cities across the state

By Ted Dabrowski and John Klingner:

Illinois’ finances aren’t just decaying at the top, they’re falling apart everywhere. The state’s one-size-fits-all pension laws and overly generous benefits have left many cities suffocating under impossible pension debts as their populations shrinktax burdens jump and resident incomes stagnate.

Without an amendment to the Illinois Constitution’s pension protection clause – and subsequent pension reforms – expect many cities to head toward insolvency.

Read more: Wirepoints