Pension deficits are causing communities to consider more borrowing – and gambling with the proceeds – as pensions continue to consume bigger shares of budgets.
Illinois lawmakers might borrow $1 billion to extend pension buyout programs until 2026. Experts warn the efforts have been a disappointment and will do little to ease Illinois’ worst-in-the-nation pension crisis.
Pension obligation bonds, like payday loans, are a sign of mismanaged finances. Illinois not only leads the nation for using that risky debt, it owes the bulk of it.
Occupational licensing requirements present one of the steepest barriers to low-income Illinoisans starting careers in beauty services. Illinois requires anyone seeking to become a barber, cosmetologist, nail technician or hair braider to obtain a state license, essentially a permission slip to work. Unlike 45 other states, Illinois offers only one pathway to licensure for each...