by Mark Cavers Illinois will have $8.3 billion in unpaid bills by the end of the fiscal year, a projected deficit of $1.7 billion for fiscal year 2012 and $86 billion in unpaid pension liabilities. A contributing factor to our deficits, and a major reason behind calls for higher taxes is government employee’s pay and benefits. Rather...
Inauguration day carries a spirit of optimism. Changes are needed in Chicago, and we can all hope today is the day that those changes begin to take place. Chicago is a great city, and in almost every way it could become the greatest city in America. But sober realities await the new mayor. The city...
by Mark Cavers Update: Today is a big day for children in schools across state. Senate Bill 7, which represents a significant step forward in the effort to give all our children an excellent education just passed the House! By a margin of 112-1-1 the Illinois House of Representatives sent a strong message that they...
The Problem Illinois hasn’t saved enough money to fund the pensions promised to government employees who are in or near retirement. Official estimates calculate Illinois’s unfunded pension liability at $86 billion, while other academic studies put the real problem north of $210 billion. Bold action is needed to balance the state’s pension funds while keeping...
Pension reform is needed now. This five minute video addresses the misinformation about HB149, including the number one question people have: will it take away benefits that have been previously earned? The answer is no. Watch the video and then call your legislator and urge them to support HB149. Phone the Illinois Capitol Switchboard: (217) 782-2000.
A January poll asked likely Illinois voters how the state should address its increasing pension payment. Sixty-four percent of respondents said that benefits for current public employees should be reformed to work within the state’s financial constraints. Earlier this year, lawmakers passed a record 67 percent tax hike. At the time, taxpayers were told the...
by Mark Cavers Last week a Chief Executive Magazine survey of 556 CEOs ranked Illinois as the third worst place to do business in the United States. Put another way, over 500 of the leaders who are making company’s decisions on where to invest, hire more employees, and expand or contract operations would opt to go almost anywhere in...
Collin Hitt, Senior Director of Government Affairs, discusses the latest news on pensions.
by Mark Cavers Last week, Indiana’s Governor, Mitch Daniels, released a recap of the previous legislative session and touted a number of successes for the residents of Indiana. Here in Illinois, our legislators are now faced with many of the same opportunities that Indiana took advantage of over the past few months. Lets take a quick look...
Download a pdf of this report and chart here. If Illinois continues on its current path, the amount of money that state government spends on the State Universities Retirement System, or SURS, will eclipse the amount of general funds given to public universities and community colleges. The graphic below demonstrates how the rising costs of...
by Brian Costin On Tuesday, May 24 we will host pollster Scott Rasmussen to discuss the intersection of public opinion and free market principles. The renowned founder of Rasmussen Reports will share what “big ideas” are trending nationally and provide takeaways for Illinois residents, officials, and business leaders. This week, Rasmussen Reports released the results of a new poll showing heavy dissatisfaction...
by Brian Costin In the above video from 2009 the Cato Institute’s Senior Fellow, Randal O’Toole, talks about the impact of high speed rail in Illinois. Fast forward to April 2011, and it appears as if the national high-speed rail plan touted by President Obama is losing significant steam. This blog post from O’Toole explains. “President Obama’s dream...
by Collin Hitt A new poll from Rasmussen Reports finds that most American voters think public schools are wasteful. Interestingly, Americans also understate the amount of tax money that schools receive. A new Rasmussen Reports national telephone survey finds that only 11% of voters think the taxpayers are getting a good return on that investment. Seventy-two percent...
by Brian Costin Is it wrong that we get excited about economics rap videos? As we continue to deal with the fallout of the “Great Recession” the debate over the proper role of government in the economy is increasingly being debated in the mainstream media. Two historical figures who are increasingly relevant in this debate are...