K-12 Tax & Spending Climate: $251B Unfunded Pension Liabilities (Illinois)

John Kass:

Bills pile up; Moody’s Investor Service says taxpayers are on the hook for $251 billion in unfunded public union pension liabilities.

Boss Mike Madigan, king of the Democrats who control things, wants tax increases but no real structural reform to bring stability to The Venezuela of the Midwest.

And the whispers of bankruptcy won’t help the average (remaining) taxpaying chumbolones like you and me who don’t want to leave our homes but who’ll get stuck with the bills.

Since our neighboring states are doing better, taking Illinois jobs and businesses and Illinois workers and taxpaying families, they might as well just take the rest of Illinois, too, dammit.

Wisconsin can have Chicago and begin calling it “South Milwaukee.”

Naturally, Chicago Mayor Rahm Emanuel will fight this. He needs a job. And he’ll most likely beg his friends at The New York Times and the Washington Post to write angry editorials to save him. And these will be full of concern for the republic and those dispossessed Midwestern salt-of-the-earth taxpaying Americans, as if.

Sadly, Wisconsin probably won’t want Rahm, either. So to spare hurt feelings, I propose carving out 40 acres around the mayor’s home so Rahm might be prince of his own country:

Rahmonia.

And Cook County Board President Toni “Taxwinkle” Preckwinkle will fight it, too, so she needs something to soothe her ambitions: