Illinois’ mountain of debt will be Madigan’s fiscal legacy

By Adam Schuster

01/12/2021

Decades of institutionalized financial mismanagement left Illinois with the nation’s worst fiscal health. Illinois House Speaker Mike Madigan has been at the center of nearly every bad decision along the way.

TAGS: corruption, credit rating, debt, Mike Madigan, pensions, taxes

Holiday scratch-offs win bupkis for Illinois students

By Ann Miller

12/23/2020

Anyone betting those lottery tickets they gifted will help education would lose.

TAGS: education, illinois lottery, pensions, public schools

Pritzker calls for $700M in service cuts, silent on pension reform

By Brad Weisenstein

12/17/2020

Illinois’ current budget started out at a deficit, hoped for a tax increase that was rejected and counted on a federal bail-out that never came. Gov. J.B. Pritzker’s best fix is pension reform.

TAGS: budget, COVID-19, deficit, JB Pritzker, pensions

Pensions set to consume 29% of Illinois’ budget amid $7 billion debt increase

By Adam Schuster

12/17/2020

New official reporting from the state of Illinois shows both rising debt and rising costs in state retirement systems, with essential government services again facing cuts.

TAGS: COGFA: Commission on Government Forecasting and Accountability, debt, Illinois, Moody's Investor Service, pensions

Illinois loses 1,100 jobs in October, unemployment rate falls largely from workers giving up

By Bryce Hill

11/20/2020

Jobs data is giving the illusion of economic recovery in Illinois. The reality is 107,530 workers gave up their job searches, and new COVID-19 lockdowns can only hurt more workers.

TAGS: COVID-19, IDES: Illinois Department of Employment Security, income tax, JB Pritzker, jobs, pensions, unemployment

Pension reform key to protecting Illinois services, taxpayers after ‘fair tax’ rejection

By Adam Schuster

11/12/2020

Asking Illinoisans to pay more in taxes to receive less in services has been the trend in state government for the past decade, driven by the ever-growing cost of Illinois’ worst-in-the-nation pension crisis.

TAGS: fair tax, JB Pritzker, pensions

Madison County voters asked about Illinois lawmaker raises, double dipping

By Joe Tabor

11/02/2020

Two advisory ballot initiatives will ask Madison County voters about automatic raises for lawmakers and public worker double dipping.

TAGS: ballot referendums, lawmaker pay, Madison County, pensions

Retirement tax could be next if ‘fair tax’ passes, Moody’s says

By Adam Schuster

10/22/2020

The credit rating agency also said Illinois will soon pass the point of no return on public pension debt. It warned against schemes to stretch or delay pension payments.

TAGS: credit rating, fair tax, pensions, retirement tax

Star of misleading ‘fair tax’ ad set to draw $1.1M in pension payments for 1 year of state work

By Brad Weisenstein

10/19/2020

‘Fair tax’ backers funded by Gov. J.B. Pritzker created the illusion of bipartisanship by using a former public employee union staffer who collects a generous taxpayer-funded pension due to a loophole in state law.

TAGS: AFSCME: American Federation of State County and Municipal Employees, pensions, progressive tax, Vote Yes for Fairness

Report: Illinois fiscal health again 2nd worst in U.S.

By Ben Szalinski

09/22/2020

Each Illinois taxpayers owes $52,000, thanks to politicians spending more than they already take in. On Nov. 3 taxpayers will be asked for even more.

TAGS: debt, economy, JB Pritzker, pensions