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A comment on Illinois pension benefits have grown six times faster than state revenues. Parent comment

Re:Illinois pension benefits have grown six times faster tha... by dmm on Wednesday March 28, 2018 @11:47AM (#16698649)
> filing for bankruptcy

Illinois has significant assets and the power of taxation over a large economy. I can't see a court just allowing them to discharge their obligations. It's also not clear that states _can_ declare bankruptcy.

I think a federal bailout of some kind is more likely, not a better idea necessarily, but more likely.

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Re:Illinois pension benefits have grown six times faster tha... by JumpCrisscross on Wednesday March 28, 2018 @11:49AM (#16698672)
> a federal bailout of some kind is more likely

At least in my D.C. circles, the Puerto Rico bail-out bill was framed as a dry run for Illinios.

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Re:Illinois pension benefits have grown six times faster tha... by lotsofpulp on Wednesday March 28, 2018 @12:11PM (#16698930)
I think we will see a federal bail out, plus benefit cuts, plus Illinois privatizing some government assets. I would bet Puetro Rico's pension recipients get their benefits cut also.

http://abcnews.go.com/International/wireStory/puerto-rico-re...

We will all pay in the end though, via the reduced value of the US dollar. Just have to make sure we stay ahead of inflation, and try not to live in the jurisdictions with the worst finances, because they're quality of life will probably steadily erode.

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