Wednesday, May 02, 2012

Cook County taxpayers on the hook for $140 billion in debt

Crain's Chicago Business reports:
Cook County taxpayers collectively are on the hook for more than $140 billion in pension, construction and other debt that's been run up by the county and its 553 local governments.

There's more:
about half of the local governments surveyed have given annual pay increases averaging 4 percent, including both "step" experience hikes and increases for inflation.
The land of hope and change.