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Chitown - $21 billion in debt
Old 10-02-2012, 02:45 PM   #1
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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!


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Old 10-02-2012, 03:04 PM   #2
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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.

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Old 10-02-2012, 03:11 PM   #3
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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.
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