With a court ruling that benefit cuts are barred by the state constitution, Illinois has no choice but to raise more revenue. (Photo: Shutterstock)
(Bloomberg) –Illinois needs $134 billion and may hold a yard sale to raise it.
Governor J.B. Pritzker, a Democrat who took office last month, is turning to business experts to figure out how to chip away at the massive debt in the state's employee retirement system that's left the government's credit rating dangling just one step above junk.
Among the options it will weigh: How to use the state's other assets — like buildings and roads — to pump more money into the pensions.
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