That's One Big Tax Bill, Chicago

Elisabeth Meinecke
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Posted: Jun 22, 2011 9:43 AM

Chicago Business reported today that "average" Chicago households owe as their portion of local government debt $63, 525. If you live in the suburbs, your tab is $32,901. Again, this is to cover local government debt, not federal.

The article places some of the blame on an area that won't surprise New Jersey or Wisconsin residents: "$25 billion in unfunded pension liability."

Maybe it shouldn't be surprising that our president from Illinois is unwilling to balance the books at the federal level, either.