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.
America is facing a housing affordability crisis. According to a 2022 survey, 73% of Americans said the average person could not afford a home in their area, and 69% were worried about their children and grandchildren being able to afford a home. That’s unfair. Everyone deserves a good roof over their heads. Housing affordability problems...