The 2015 fiscal year marks a long-awaited milestone for Illinoisans: taxpayers are less than one year away from tax relief. The record 2011 income tax increase is slated to partially sunset during the 2015 fiscal year. But politicians are already crying poor as Illinois approaches the tax-hike sunset. The solutions they’ve offered up involve making...

$31.6 billion is more than what Illinois spends on all core government services (e.g., education, health care, human services, public safety) in a full fiscal year.

The General Assembly Retirement System, or GARS, which offers a defined benefit plan for 294 General Assembly retirees, is nearly out of cash. Only massive taxpayer contributions are keeping the system afloat. Without those contributions, the system will run out of money in less than three years. Here are the facts on the insolvent GARS...

Chicago Park District total debt: $1.4 billion The Chicago Park District is responsible for overseeing museums, beaches, parks, pools and other attractions. Chicago Park District has an annual operating budget of $410.9 million and employs approximately 3,000 workers. Chicago Park District’s debt burden totals more than $1.6 billion, including debt, health insurance and pension liabilities....

Illinois’ credit rating is in a free fall. Rating agencies have downgraded Illinois 13 times under Gov. Pat Quinn. Most recently, Moody’s Investors Service reduced Illinois’ credit rating to A3 from Aa3 – just four notches above junk status. Even before this downgrade, Illinois already had the worst credit rating in the nation. Illinois’ constant...