CTBA pension plan: Unsound, unfair and unaffordable

By Adam Schuster

11/26/2018

A pension plan pushed by one Illinois think tank fails to reform the state’s broken pension system and risks repeating costly mistakes. Gov.-elect J.B. Pritzker shouldn’t be fooled and should instead endorse meaningful, lasting reform.

TAGS: CTBA: Center for Budget and Tax Accountability, debt, Edgar Ramp, JB Pritzker, Jim Edgar, municipal pensions, pension guarantee, pensions

Moody’s: Illinois pension debt-to-revenue ratio hits all-time high for any state

By Adam Schuster

08/31/2018

According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record.

TAGS: bonds, credit rating, debt, employment, harvey, Moody's Investor Service, municipal pensions, pension guarantee, pensions, peoria, taxes

30 years later, taxpayers still on the hook for White Sox stadium

By Eddie Damstra

06/29/2018

While the name of the home stadium for the Chicago White Sox has changed over the years, its status as a tax burden has not.

TAGS: bonds, debt, Illinois Sports Facilities Authority, taxes

Will Illinois pass a budget this year?

By Adam Schuster

04/20/2018

History shows lawmakers prefer to avoid tough but necessary choices.

TAGS: balanced budget requirement, budget, credit rating, debt, income tax, Mike Madigan, progressive income tax, Spending, spending cap, taxes

Why Illinois needs a spending cap

By Orphe Divounguy, Bryce Hill, Joe Tabor

01/27/2018

Spending has consistently outpaced state tax revenues in Illinois for more than a decade. To avoid future tax hikes, Illinois must impose real fiscal discipline on state lawmakers.

TAGS: debt, deficit, Illinois General Assembly, income tax, Spending, taxes

‘Sinkhole city’: Accounting watchdog gives Chicago an F in fiscal health

By Vincent Caruso

01/26/2018

A recent analysis ranked 75 of the most populated cities in terms of fiscal health - and placed the Windy City next to dead-last.

TAGS: Chicago, debt, Rahm Emanuel, taxes

Illinois ranks among bottom states in fiscal health

By Vincent Caruso

11/10/2017

A new study highlights the gravity of Illinois' fiscal crisis.

TAGS: budget, debt, deficit, pew research

Cook County local government debt hits $139 billion

By Chris Lentino

11/07/2017

Cook County governments have now amassed $139 billion in debt, a 30 percent increase over the last 5 years.

TAGS: Chicago, Cook County, CPS: Chicago Public Schools, debt, local government, municipal pensions

Billions in unpaid health care bills shine a light on overly generous benefits

By Ted Dabrowski, John Klingner

10/06/2017

State workers receive a platinum-level health care plan at a heavily subsidized cost, while Illinoisans in the private sector paying for those plans see their own premiums skyrocket.

TAGS: AFSCME: American Federation of State County and Municipal Employees, debt, health care, pensions

Illinois state budget already in deficit despite record $5 billion tax hike

By Ted Dabrowski, John Klingner

09/25/2017

With the 2018 budget set to spend at least $1.3 billion more than it takes in, members of the General Assembly have hoodwinked Illinoisans once again.

TAGS: budget, COGFA: Commission on Government Forecasting and Accountability, debt, LGDF: Local Government Distributive Fund, pensions, unpaid bills