Elisabeth Meinecke

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.


Elisabeth Meinecke

Elisabeth Meinecke is TOWNHALL MAGAZINE Managing Editor. Follow her on Twitter @lismeinecke.