Illinois could learn from Detroit default

Published 07/19 2013 10:04PM

Updated 07/22 2013 04:11PM

SPRINGFIELD -- Illinois leaders are probably watching the Motor City right now. This week, Detroit became the largest city in the country to file for bankruptcy.

Illinois shares a lot of common problems, but as a state, it can't go into bankruptcy. Experts say Illinois should learn from Detroit. The city had chances to fix its problems, but never did. Illinois still has the chance.

Illinois' pension system is currently underfunded by about $100 billion. That's the biggest deficit in the country.

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