IL continues to feed the pension crisis in the state

Adam Schuster: IL Policy Institute

The Annie Frey Show
December 04, 2019 - 2:37 pm

How does corruption fit into the pension problem?

Adam Schuster said there is one way out of the pension hole Illinois has dug itself.

There are really only two ways out. Schuster pointed to amending the constitution.

“We can save about 2 billion dollars a year while protecting every dollar that has been earned to date,” Schuster said.

The other solution, and the less appealing choice, would be the stating going bankrupt. No other state has gone bankrupt and it would be devastating for Illinois if this happened.

“We’re hurting people with these tax hikes and driving people out of the state,” Schuster said. “It starts with structurally forming pensions.”

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