- Illinois is a Sinkhole State with the 2nd worst per Taxpayer Burden
- Illinois has only $28 billion to pay the state's bills totaling $204 billion
- To fill its $176 billion financial hole each taxpayer would have to send $43,400 to the state
- The Illinois financial statements clearly report $37 billion of retirement liabilities, but in reality the state has more than $110 billion of unfunded retirement promises
- The Illinois Taxpayer Burden is 93% of an average citizen's personal income of $46,780
- Despite a 180 days goal, Illinois took 243 days after its fiscal year end to release last year's Comprehensive Annual Financial Report (CAFR)
- Outbound moves from Illinois were 61%, the 2nd highest of all the states, which usually means more people are moving out of the state
For a comprehensive look into the state's financial position read the Illinois Financial State of the State
Truth in Accounting’s methodology is unique, analyzing all state assets and liabilities, including unreported pension and retirement health liabilities.
Link to IL CAFR: Illinois Comprehensive Annual Financial Report
Publishing Entity: Illinois Comptroller
Related Links: Glencoe State of the Village 2011
Truth in Accounting’s methodology is unique, analyzing all states assets and liabilities, including unreported pension and retirement health liabilities.