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JP Morgan expert: True debt, pension, healthcare payments would consume half of Illinois revenue, bankruptcy option needed

OCTOBER 10, 2018 | by Mark Glennon | WIREPOINTS

“Most states, he concludes, have manageable burdens (which he defines as 15% or less). Not Illinois, which is far worst among the states. … For the worst off states, particularly Illinois and New Jersey, Cembalest says a solution based on tax increases or higher employee contributions is probably neither economically or politically viable. Hence, the bankruptcy option. …”

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