Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Chitown - $21 billion in debt
Old 10-02-2012, 02:45 PM   #1
Recycles dryer sheets
Join Date: Dec 2006
Location: chicago burbs
Posts: 486
Chitown - $21 billion in debt

Saw this on tv this afternoon. A baby born today would need to pony up over $7,900 to balance this debt. Property taxes would need to tripled. Looks like some pensions need to be hit up hard.

State of Illinois is $200 billion in debt.

What a messed (i.e corrupt) up state I (always) live in!


golfnut is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-02-2012, 03:04 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
Join Date: Jul 2008
Posts: 15,892
My condolences.

For a comparison, the public debt of Greece is $350 billion euros, or $455 billion dollars. That works out to $41K dollars per Greek, and $16K per Illinois citizen using your $200B number.

Wait a minute. You don't do so bad after all. I take my sympathy back.

"Old age is the most unexpected of all things that can happen to a man" -- Leo Tolstoy
NW-Bound is offline   Reply With Quote
Old 10-02-2012, 03:11 PM   #3
MichaelB's Avatar
Join Date: Jan 2008
Location: On the road again
Posts: 21,125
Illinois GDP is around $650B, so the total obligation, including the current value of future benefits, is around 30%. Not defending, just adding some perspective.
MichaelB is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 09:32 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.