The Chicago Teachers Union filed a 10-day strike notice Wednesday, which may tempt some Chicagoans to overreact. To some extent the teachers union is counting on this sort of reaction. They are hoping that upset parents will call on the school board to end the strike at all costs, and pressure the district into making...
New report details Illinois
Illinois reports that it owes $83 billion to its five public pension funds. Worse yet, under new reporting requirements by the Governmental Accounting Standards Board and Moody’s Investment Services, the state’s pension debt will more than double. There are a lot of numbers being thrown around in the fight over pension reform. But these are the...
This time the alleged corruption comes from West Harvey-Dixmoor School District 147. Retired superintendent, Alex Boyd, is accused of,“fraudulently cashing out about $350,000 worth of sick and vacation time and racking up $57,000 in unauthorized credit card charges.” Also, board member Mable Chapman is accused of, “helping Boyd bilk the district while having family members hired by...
The national food stamp program was originally designed to provide nutritional foods for folks who can
A coalition of progressive groups is beginning to coalesce around a proposal to create a progressive income tax in Illinois. Under their plan state income tax rates will increase as one reaches higher incomes, up to a top rate of 11 percent for incomes over $1 million. This plan would leave Illinois with one of...
Illinois’ July unemployment rate hit 8.9 percent, up from 8.7 percent in June, the second consecutive monthly increase. Thirty-nine states have a lower unemployment rate than Illinois. According to the U.S. Bureau of Labor Statistics, Illinois’ labor force is roughly 6.5 million people. More than half a million of them are unemployed. This is a...
Maryland stands to lose big if the government steps in to save state pension systems
In October, the federal government will begin implementing the “readmissions adjustment factor,” one of ObamaCare’s cuts to hospital reimbursement rates. New research from the Kaiser Family Foundation shows that the group hit hardest by these new cuts are safety net hospitals. According to federal data, a whopping 88 percent of hospitals in Illinois will be hit with this year’s rate cuts. By...
by Conor Durkin When politicians lose interest in reform, taxpayers “lose interest,” too. Last week Gov. Quinn’s special legislative session failed to pass a bill dealing with Illinois’ pension problems. Yet even if any measure had passed, Illinois’ massive problems would persist. The proposals debated in Springfield were far too small to make a visible...
As John Tillman noted yesterday, the last few days have been full of political melodrama as the Illinois General Assembly holds a special session that is unlikely to do more than pass a sliver of a reform — if they can even muster that. But I’d like to call attention to the role that AFSCME is...
By a vote 100-6 State Rep. Derrick Smith (D-Chicago) has been expelled from the Illinois House of Representatives.
While they only managed to pass an amendment, the House provided some memorable quotes.
Illinois’ state pension systems are barreling towards insolvency. Without a complete pension overhaul, Illinois’ five pension systems may reach their breaking point. There is only one way to prevent a collapse. Illinois must shift from defined benefit (DB) to defined contribution (DC) plans. In a DB plan, an employer pays fixed, regular pension payments over a...