One of the best organizations trying to hold public officials accountable, Truth in Accounting, released its current Financial State of the States report (FSOS) today. It’s bad enough that TIA reports that “41 states do not have enough money to pay their bills.” It’s worse that our state’s debts exceed the value of everything the state owns.
Illinois owes $235.9 billion; its assets total $25.5 billion.
State officials are still hiding the true costs of retiree health care, and this will be as big a bombshell as the pension crisis.
Next year is an election year, with a state primary in March and a general election in November.
If this isn’t a call to citizen action, I don’t know what is.