Broke Illinois Pension System Leaves Every Resident With $11,000 Of Debt

For those unfamiliar, here's a quick recap: Illinois (rate just one notch above junk) is drowning under a mountain of debt, unpaid bills and underfunded pension liabilities and it's largest city, Chicago, is suffering from a staggering outbreak of violent crime not seen since gang wars engulfed major cities from LA to New York in the mid-90's, while rising taxes have prompted a mass exodus with the state lost 1 resident every 4.3 minutes in 2017.

And if you need a refresher, feel free to peruse some of our coverage on Illinois' challenges:

An "Audible Gasp" Was Heard When The Chicago Fed Unveiled Its "Solution" To The Pension Problem

Illinois Pension Funding Ratio Sinks To 37.6% As Unfunded Liabilities Surge To $130 Billion

Illinois Unpaid Vendor Backlog Hits A New Record At Over $16 Billion

Illinois Lost 1 Resident Every 4.3 Minutes In 2017, Dropped To 6th Most Populous State

The State Of Illinois Is "Past The Point Of No Return"

"What The Hell Is Going On In Chicago" And Other Highlights From Trump's Speech To FBI Grads

The state's horrendous mismanagement has left each man, woman and child of Illinois with nearly $11,000 in debt.

“Illinois failure to address its pension crisis has resulted in further deterioration of the state and cities’ financial condition, exorbitantly high borrowing costs, and an inability to address other critical needs at the state and local level,” said Laurence Msall, president of Chicago nonprofit - the Civic Federation, which tracks state and municipal finances. “

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