Doubek: Candidates, Where's the Discussion About Our Big Debt Problems?

We need to see some leadership about addressing our serious pension and other debt problems in Chicago and Illinois.


Imagine you’re nearing the end of your life now and it’s time to let your children and grandkids know what you’re leaving them.

“Kids, here’s the deal. I worked hard all my life. I wanted to make you proud. I wanted to leave you a nice nest egg. I tried, but you know, we’re in Chicago and Illinois. We procrastinate here, so I’m going to have to leave you with this overdue bill. It’s $126,000. I’m so sorry.”

The nonpartisan, nonprofit organization Truth in Accounting issued a report last month, looking at all debt for Chicago and its various other governments, including schools, and concluded that each Chicago taxpayer is on the hook for more than $75,000. Add that amount to the state debt of more than $50,000 per taxpayer and they figure you now owe more than $126,000.

Read the rest of Doubek's column at the Chicago Sun-Times.