Must-Reads for November 23

WSJ: Illinois the 'Unfixable'

Illinois's pension system is heading for a meltdown and may now be beyond help. That's the forecast from a Chicago business group, which told its members last week that the state's pension crisis "has grown so severe" that it is now "unfixable."

ABC: Jesse Jackson Jr.’s Resignation Could Cost Taxpayers $5.1 Million

Jesse Jackson Jr.’s resignation from the House could cost Illinois taxpayers more than $5.1 million, according to the state elections board.

States and business advocates are maneuvering to use the current budget negotiations in Washington to win support for a long-sought increase in the federal gasoline tax—one of a grab bag of proposals various groups are seeking to tuck into a deal.

Chicago Tribune: For some, entering a city elite high school gets a little more difficult

Demographic tweaks to a complex enrollment system intended to ensure diversity at Chicago's best public high schools have created added anxiety for many parents who suddenly face tougher odds of getting their children into the elite schools.

CNBC: Hostess laying off 15,0000

Roughly 15,000 workers were expected to lose their jobs immediately, and most of the remaining 3,200 would be let go within four months.

A fresh examination of special education enrollment patterns in New York State suggests that charter schools may be doing better at enrolling students with special needs than many believe.

The Metro Productivity Index— developed by José Lobo of Arizona State University. It is a ratio that compares the level of economic output per person for metros to the gross domestic product (GDP) per person for the nation as a whole. It covers the period 2001 to 2010 and is based on data from the Department of Commerce’s Bureau of Economic Analysis (BEA)

Illinois Democrats are pushing a bill that would grant driver’s licenses to undocumented immigrants, saying the policy would improve road safety and cut down on uninsured drivers.

Must-Reads for November 21

Chicago Tribune: Squeezy isn't selling snake oil

Quinn unveiled with great fanfare Squeezy the Pension Python, a mascot that is part of a marketing campaign to encourage pension reform. You didn't wake up under a circus tent. This is real government at work, the Playskool version. "Pensions for Dummies."

State Journal-Register: Apparent Hostess closing hits home in Springfield

The apparent demise of Hostess Brands hit home in Springfield this week. The big guys fight, and the little guy gets the bloody nose.

RealClearMarkets: A cure for blue state fiscal blues

While a budget compromise that avoids the fiscal cliff seems likely, Blue states will still be the biggest losers because the President is demanding significant tax increases.

Must-Reads for November 20

Forbes: George Soros & PBS V. Arthur Laffer

Heath acknowledges traditional dentistry fails the poor, but does not seem to care. In his world, investors help poor kids find dental care is far worse than leaving children in pain.

The American: Lenders and spenders: confronting the political reality of debt

The Fed is going to be caught between a rock and a hard place. If it fights inflation, the political system will be stressed by the challenge of allocating budgetary pain. If it fails to fight inflation, it risks hyperinflation.

Defining Ideas: The flat tax solution

A sound tax system has as few moving parts as possible. We should scrap the current system in favor of a flat tax on consumption.

Must-Reads for November 19

Chicago Tribune: It's worse than you thought

Keep reading and you learn that the committee isn't saying the system is mathematically unfixable. The problem is that Illinois pols lack the courage to take four steps the committee views as absolutely necessary.

State Journal-Register: Fixing the unfixable

Just for the record, there are 35 lawmakers who will be out of office after Jan. 9, when newly elected legislators are seated. They don’t have to worry about how a pension reform vote will affect their next election.

The Telegraph: West falling into economic no growth black hole

No government in what used to be called "the free world" seems prepared to take the steps that can stop this inexorable decline. They are all busily telling their electorates that austerity is for other people (France), or that the piddling attempts they have made at it will solve the problem (Britain), or that taxing "the rich" will make it unnecessary for government to cut back its own spending (America).

RealClearMarkets: Cows flee California seeking a better economic climate

It's hard to find a government program as insane as the complex web of price supports, market orders, direct payments, diversion programs, herd reductions, import barriers, export subsidies, and stacked-to-the-rafters cheese warehouses that characterize Uncle Sam's efforts to "rationally manage" the dairy market.