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The above video episode of Public Affairs, taped on October 26, 2018, at the Chicago Loop offices of Residco, features Bill Bergman, Truth In Accounting's Director of Research. Bergman debates and discusses with show host Jeff Berkowitz the disastrous financial condition of Chicago and Illinois, focusing on the 200 to 400 billion dollars in Illinois' unfunded pension and retiree healthcare liabilities and what that means for the financial condition of the state and some of the consequences of that fiscal condition, including migration of people and businesses to other states.
Also discussed are potential solutions to the State's financial and pension problems including bankruptcy, the threat of bankruptcy, voluntary reduction of benefits and services by the State's various stakeholders, amending the Constitution and raising taxes massively.
Also discussed is Democratic gubernatorial candidate Pritzker's proposal for a progressive income tax and Wirepoints' analysis and projected impact of Pritzker's proposal on almost all income groups, including those in the middle class.
Also discussed is the November 6, 2018 IL gubernatorial and state legislative elections and the differing views of IL gubernatorial candidates Rauner and Pritzker about unions and handling the IL state employee pension crisis.
You can learn more about Truth in Accounting and their State Data Lab-- at their:
Web site: https://TruthinAccounting.org/
Web site: https://www.statedatalab.org/
Bill Bergman's academic background: UChicago MBA and UChicago Harris School MA
Bill Bergman's employment background: Thirty years of working in Economics and Finance, including at the Federal Reserve Bank of Chicago and currently at Truth in Accounting and Loyola University, Chicago- teaching Finance courses.