State Pension Crisis Leading To High-Tax Exodus

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State Pension Crisis Leading To High-Tax Exodus
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Many public pension plans are dragging down their respective state and local governments, and the root of the problem is legislative inflexibility and demographic shifts, stated Chicago resident Jim Bianco, head of Bianco Research.

This time on FS Insider, we spoke with Bianco about the massive public pension funding gap, now reaching a tipping point, and Illinois’ politically-created downward spiral.

The Public Pension Straight Jacket

The reality is, the state of Illinois, where Bianco resides, could become the first ever to get hit with a junk status credit rating.

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