Gov. Quinn attacking the Institute on CapFax blog
Gov. Quinn attacking the Institute on CapFax blog
Why the No Pension Bailout project matters
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
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
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
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...
Institute on Illinois Watchdog: DeMint
Institute on Illinois Watchdog: DeMint
The Illinois Policy Institute launched
Sen. Jim DeMint: Don’t bail out state pensions
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
Institute on RedState: Don’t Bail Out Public Pensions!
Institute on RedState: Don’t Bail Out Public Pensions!
U.S. Sen. Jim DeMint (R-South Carolina), the Senate
Institute on Talk Radio News Service: DeMint warns against state pension bailout
Institute on Talk Radio News Service: DeMint warns against state pension bailout
Sen. Jim DeMint (R-S.C.) and other conservatives said today that it would be a mistake for the federal government to consider bailing out states that are in danger of defaulting on massive pension liabilities.
Chicago Tribune: Why Illinois is so broke
Chicago Tribune: Why Illinois is so broke
A specter is haunting Illinois
Chicago Teachers Union demands huge raise on top of million-dollar pensions
Chicago Teachers Union demands huge raise on top of million-dollar pensions
Chicago teachers are striking. You may recall that they were demanding a 30 percent raise earlier this year, which would have spiked the average teacher’s salary to nearly six figures. But nobody seems to be talking about what this will do to a pension system already in trouble. Chicago teachers’ pension fund is woefully underfunded. According to new...
Union demands ignore extent of Chicago’s pension crisis
Union demands ignore extent of Chicago’s pension crisis
So, the Chicago Teachers Union is on strike. You may remember that they were demanding a 30 percent raise earlier this year and that they rejected a package that included a 16 percent raise. The union’s demands would spike the average teacher’s salary to nearly six-figures, and that’s before you tally up the generous benefits they get on...
Facts are stubborn things
Facts are stubborn things
During Gov. Quinn’s DNC address, he invoked John Adams’ famous line, “facts are stubborn things.” Quinn presented his facts about President Obama’s track record. Quinn presented his facts about Governor Romney’s track record. And Quinn presented his facts about Congressman Ryan’s track record. There was one track record that Quinn failed to mention. His own....
$16,000,000,000,000
$16,000,000,000,000
The U.S. Treasury Department released a statement on Tuesday, confirming that the federal government has topped $16,000,000,000,000 in debt. (That’s $16 trillion, if you lost count of all the zeros). When combined with state level debt ($4.19 trillion), the number tops $20 trillion in total public debt. At the end of 2008, just before President Obama officially...