Great Recession

Illinois’s Lost Decade

09/14/2010
by Kristina Rasmussen A new report on jobs and unemployment from the Commission on Government Forecasting and Accountability points out that Illinois’s employment levels are similar to that after the 2001 recession: Though the State gained jobs between the ‘90s tech boom peak and the 2006 expansion peak, the employment situation in Illinois currently stands approximately where the...

Top Marginal Tax Rate of 88 percent!

By Chris Andriesen
08/17/2010
Veronique de Rugy of the Mercatus Center at George Mason University constructed the diagram below using data from the Congressional Budget Office during the very early stages of the Great Recession and before the Obama presidency. It shows the increase in marginal tax rates required to fund entitlement spending for 2010, 2050 and 2082. The required increase...

Are Government Jobs Recession Proof?

By Chris Andriesen
07/07/2010
Recently, a number of Illinois state government employees received pay raises in the midst of an economic recession and ongoing budget crisis. Was this an isolated incident? No, it’s a trend. The chart above was constructed using data from the Bureau of Economic Analysis, and it shows the compensation of public and private employees indexed against the first...