Rutherford [Illinois Treasurer] first calculated that the pols who run Illinois have amassed nearly $200 billion in debt. That includes some $45 billion in bond debt, $8 billion in unpaid bills and $140 billion in unfunded pension and health care benefits for public employees. Every household in Illinois owes $42,000. Don't get us started on your share of the debts run up by your profligate local and federal governments. Chicago TribuneI can add in the share of federal debt owed by Illinois households. Depending on the household size, the average is probably close to $160,000; making each Illinois household owe, directly, some $200,000 in debt for government goods promised from their paychecks. With current interest rates, that is about $8,000-12,000 per year in debt service per household each year.
Monday, May 30, 2011
Illinois debt per household
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