- Illinois Pension Funding Ratio Sinks To 37.6% As Unfunded Liabilities Surge To $130 Billion
- Illinois Unpaid Vendor Backlog Hits A New Record At Over $16 Billion
- The State Of Illinois Is "Past The Point Of No Return"
- "What The Hell Is Going On In Chicago" And Other Highlights From Trump's Speech To FBI Grads
Of course, the net population loss masks the true gross outflow of Illinois residents as it doesn't account for natural births/deaths. Assuming that Illinois has the same natural population growth as the U.S. as a whole (0.7%) implies that the state lost a staggering ~125,000 residents in aggregate, or roughly 1 man/woman/child every 4.3 minutes.
Meanwhile, adding insult to injury, the domestic migration out of Illinois was enough to push the state down one notch on the state population ranking tables to just below Pennsylvania. Per Illinois Policy:
Of course, this is all terrible news for Illinois retirees whose pension obligations continue to grow every year and currently stand at nearly $130 billion...
While we could be wrong, the last we checked folks were no longer on the hook to pay Illinois taxes after making the decision to move to another state. Meanwhile, efforts to offset the lost tax revenue will only result in an acceleration of population declines in the future...
Conclusion: Sorry, Illinois, but your ponzi scheme is slowly coming unraveled.
Meanwhile, one of the new Dems running for governor is promising the same BS as usual... which means more debt... as long as someone seems to want to buy those bonds, why worry, right?