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...
Negotiations between the State of Illinois and District Council 31 of the American Federation of State, County, and Municipal Employees are at a standstill.
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.
Last week the Illinois Policy Institute launched "NoPensionBailout.com," a national project aimed at preventing a federal bailout of state pension debt.
After nearly a year of collective bargaining and a seven day strike, you have reached a tentative agreement with the Chicago Teachers Union.
For the third straight month, Illinois' unemployment rate climbed. More than 9.1 percent of Illinoisans are now unemployed, a full percentage point higher than the national average of 8.1 percent, according to the Bureau of Labor Statistics.
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...
Rahm Emanuel famously argued that
The Illinois Policy Institute launched
A few parting observations, lessons to be learned, and things to watch in the future: Any positives in the contract? Yes, but… It is hard to find positives in the contract, but for what it’s worth: Chicago had one of the shortest school days and years in the US. The school day is a bit longer and...
Bailout of state pensions would force taxpayers in prudent states to pay for fiscal irresponsibility of Illinois, California
U.S. Sen. Jim DeMint (R-South Carolina), the Senate
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.
John Tillman appeared in-studio with Varney & Co. on Fox Business to discuss the agreement reached between the city and teachers.