Budget + Tax Archives

Media Roundup: No Pension Bailout

See what they're saying about the No Pension Bailout project.

Will swing states pressure the presidential candidates for a pension bailout?

Will a few important swing states like Ohio and Colorado put pressure on the candidates to bail them out of their pension debt?

Another day, another CPS downgrade

Last week, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. Today, it’s Fitch Ratings that’s downgrading CPS. The school district’s credit rating now sits at A with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Fitch, the downgrade was caused by the district’s deteriorating...

By Ted Dabrowski

Institute in Pensions and Investments: Republicans build up, then fight, issue of bailouts for pension funds

Concern over underfunding of both public and corporate pension plans has Republican presidential candidate Mitt Romney, his party and other conservatives making a pre-emptive strike against the idea of federal government bailouts.

Institute on FoxNews.com: DeMint joins national effort to keep feds from bailing out state pensions

Illinois Democratic Gov. Pat Quinn is getting hit with a nationwide backlash over his suggestion that the federal government bail out the state employees

Institute in The Spokesman-Review: Don’t bail out state pension funds

The financial meltdown and Great Recession is teaching an expensive lesson: When big institutions face financial crises, governments are all too eager to bail them out.

CTU strike deal leads to CPS credit downgrade

On Thursday, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. The school district’s credit rating now sits at A2 with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Moody’s, the downgrade reflects CPS’s weakened financial condition, caused primarily by the facts that:...

By Jonathan Ingram

Gov. Quinn attacking the Institute on CapFax blog

Why the No Pension Bailout project matters

The goal of No Pension Bailout is to prevent the federal government from bailing out Illinois or any other states that have mismanaged their funds. We oppose a bailout because not only would it destroy state sovereignty and the concept of fiscal federalism once and for all, it would also transfer trillions of dollars from...

New JEC report shows why spendthrift states need structural reform, not a bailout

A new report by the Joint Economic Committee, or JEC, provides even more evidence that the federal government should never bail out state pension debt. Here are just a few of their findings.

Gov. Quinn refuses to rule out accepting federal bailout of Illinois’ pension debt

Last week the Illinois Policy Institute launched "NoPensionBailout.com," a national project aimed at preventing a federal bailout of state pension debt.

Gov. Quinn should never seek a federal bailout of Illinois’ pension debt

All across the country, states are grappling with pension funds that are massively underfunded. Under new accounting rules, Illinois’ unfunded pension debt stands at a whopping $209 billion. And that’s not counting the debt for retiree health insurance, pension bonds or all local retirement debt. Recent calculations have put the total level of states’ unfunded pension...

By Jonathan Ingram

Institute on Illinois Watchdog: DeMint

The Illinois Policy Institute launched

Sen. Jim DeMint: Don’t bail out state pensions

Bailout of state pensions would force taxpayers in prudent states to pay for fiscal irresponsibility of Illinois, California