Eleventh Circuit Court of Appeals Strikes Down Obamacare’s Individual Mandate
Eleventh Circuit Court of Appeals Strikes Down Obamacare’s Individual Mandate
by Jonathan Ingram Illinois cannot afford Obamacare. The Medicaid expansion in Obamacare is expected to increase Illinois’s Medicaid spending to $10.2 billion by 2030. This represents a 77 percent increase over 2008 spending. Illinois already faces a spending crisis, particularly within Medicaid, and the Comptroller reports even longer delays for payments to doctors and hospitals treating Medicaid patients are...
Bringing Down the House?
Bringing Down the House?
by Aon Hussain For weeks on end the debt ceiling deadline debate captured the public’s attention on a very serious fiscal situation. But what was actually accomplished in terms of solving our nation’s problems? Here’s a look at the projected numbers for fiscal year 2011. US Tax Revenue: $2,228,000,000,000 Federal Budget: $3,708,000,000,000 New Debt: $1,480,000,000,000 National Debt: $14,584,000,000,000...
Citizens Don’t Want More Taxes
Citizens Don’t Want More Taxes
by Aon Hussain With the world watching, the Republican controlled House and the Democrat controlled Senate and President came to an agreement on the debt ceiling that simultaneously raised the debt ceiling and ensured more than two trillion dollars in spending cuts. While this showdown was combative, another duel between Democrats and Republicans looms in...
Are We There Yet?
Are We There Yet?
by Aon Hussain Earlier this year, the Texas Transportation Institute measured traffic congestion across America. Their results found that Chicago has the most debilitating amount of traffic congestion in the entire country. The problem isn’t just local. In total, congestion cost the entire country almost $115 billion, forced travelers to sit behind the wheel 4.8 billion hours...
What Happens When a City Goes Bankrupt?
What Happens When a City Goes Bankrupt?
by Kolin Karchon On August 1st, the city of Central Falls in Rhode Island filed for Chapter 9 bankruptcy protection citing that “the city’s financial condition has deteriorated to the point where it is insolvent.” The city’s pension plan is expected to run out of assets by October, but city negotiations regarding benefit cuts with current workers...
Chicago Finds Savings in Traffic Control Aide Program
Chicago Finds Savings in Traffic Control Aide Program
by Mark Cavers The Chicago Tribune reports that the City of Chicago has made progress in reigning in a traffic control aide program that is costing the city millions: “Fewer traffic control aides will be posted at downtown intersections during rush hour after the city laid off about half of Chicago’s full-time brigade to save money.”...
National Study: More Costly Health Benefits for Public Workers
National Study: More Costly Health Benefits for Public Workers
by Kristina Rasmussen Josh Barro of the Manhattan Institute has a new study out examining the high cost of public employee health care benefits, and he finds that “public-employee health benefits are more expensive than those in the private sector.” In the last quarter of 2010, government employees eared $4.66/hour in health benefits, compared to just $2.08/hour in...
Out of Sync: Government and Private Employee Compensation in Illinois
Out of Sync: Government and Private Employee Compensation in Illinois
Executive Summary Since the January 2011 tax hike, Illinoisans have seen more of their household budgets go to shoulder the growing cost of government employee compensation packages – packages made up of overly generous pay and perks that many can only dream of. Righting this imbalance is one of the great social justice questions facing...
By Chris Andriesen
Quinn’s “Cuts”
Quinn’s “Cuts”
by Amanda Griffin-Johnson On Thursday, Gov. Quinn signed the budget for fiscal year 2012, which begins today. As governor, he has the power to make line item vetoes and reductions to the budget passed by the General Assembly. In his budget announcement, Gov. Quinn claims to have made $376.4 million in budget cuts, but looking deeper...
Another Stimulus?
Another Stimulus?
by Kolin Karchon In recent days, there has been discussion in Washington about another stimulus package including infrastructure spending and clean-energy initiatives. But where would the money come from? The federal government is facing a mountain of debt and is currently borrowing 43 cents for every dollar it’s spending. As more and more Americans suffer in this economic crisis, spending...
Quinn’s Corporate Handouts Hold No Promises
Quinn’s Corporate Handouts Hold No Promises
by Alex Miller Representative Jack Franks, D-Woodstock, took the House floor on Wednesday, fervently criticizing the lofty tax exemptions that Governor Quinn has granted to large corporations who have threatened to leave the state due to Illinois’s poor economic outlook. Franks insisted that he could not, in good conscience, watch so many millions fly into the hands of...
New Study Highlights Significant Cost of Pension Crisis
New Study Highlights Significant Cost of Pension Crisis
by Amanda Griffin-Johnson A new study by Robert Novy-Marx of the University of Rochester and Joshua Rauh of the Kellogg School of Management calculated the contribution increases that would be necessary to fully fund state and local pension systems across the U.S. over the next 30 years. The study found that in Illinois, annual government contributions would have to increase...