Cook County Treasurer's Office - 6/21/2011
WTTW/Channel 11
Local governments in Cook County owe $108 billion, including obligations for public employee pensions, Treasurer Maria Pappas says during an interview on Chicago Tonight on WTTW/Channel 11.
The pension funds for about three quarters of the 553 local governments are underfunded, according to the first-ever Disclosure Report issued by the Treasurer’s Office.
“If you were the Surgeon General, you would say that 75 percent of the governments in Cook County are morbidly obese,” she says. “They are just too fat. There is something wrong here.”
Watch the interview.