CHICAGO — Local governments in Cook County, Ill. face a combined financial burden of nearly $34 billion, including unfunded pension liabilities and municipal bond debt, a pair of public policy groups here in Chicago said Tuesday.

Institute for Truth in Accounting and the Heartland Institute unveiled a summary of an upcoming report on the county’s debt Tuesday morning to the county’s pension subcommittee. The full report, due out in early January, gives a detailed overview of the debt load carried by 518 tax districts in the county.

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