Head of TRS says the state may need to reduce COLAs
Head of TRS says the state may need to reduce COLAs
After years of denying that the pension funds are in trouble, the head of the state's largest pension fund is finally acknowledging the crisis.
John Tillman joined Lou Dobbs Tonight to discuss No Pension Bailout
John Tillman joined Lou Dobbs Tonight to discuss No Pension Bailout
States Face More Than $2.5T in Unfunded Pension Liabilities Illinois Policy Institute CEO John Tillman on the impact of unfunded pension liabilities on state budgets across the countries.
Media Roundup: No Pension Bailout
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 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?
Presidential debate facts: Illinois edition
Presidential debate facts: Illinois edition
How has Illinois performed under President Obama?
Gov. Quinn named “Porker of the Month”
Gov. Quinn named “Porker of the Month”
Last week, Citizens Against Government Waste, or CAGW, named Gov. Pat Quinn their September “Porker of the Month.” This monthly “award” is given to politicians and public officials who have “shown a blatant disregard for the interests of taxpayers.” As we’ve previously reported, Gov. Quinn’s fiscal year 2012 budget floated the idea of having the federal government guarantee the...
Another day, another CPS downgrade
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...
Unemployment increases, but underemployment is even higher
Unemployment increases, but underemployment is even higher
The nation’s unemployment rate increased to 7.9 percent in October from 7.8 percent in September, according to the Bureau of Labor Statistics. If that number is a reflection of the country’s anemic recovery, consider the implications of Illinois’ 8.8 percent unemployment rate in September. There are more than 580,000 Illinoisans formally out of work. And these...
Institute in Pensions and Investments: Republicans build up, then fight, issue of bailouts for pension funds
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
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
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.
State 48
State 48
Illinois’ state debt: Illinois’ total state debt is $271 billion Illinois’ state debt has ballooned to $51,000 per household Illinois has roughly $9 billion in unpaid bills Illinois will spend more on pensions than on education by 2016 Illinois’ economic performance: Illinois is 47th in job growth Illinois is 48th in economic outlook Illinois is 48th in...
CTU strike deal leads to CPS credit downgrade
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:...
Gov. Quinn attacking the Institute on CapFax blog
Gov. Quinn attacking the Institute on CapFax blog