What could be a lively debate among educators has become a dull monologue directed by entrenched union officials. Teachers unions have a lot to learn from other professional groups.
Utah’s pension funds had a 50 percent chance of becoming insolvent by 2028 prior to the state’s reform plan. The chance dropped to 10 percent after the state greatly improved the solvency of its pension funds with 401(k)-style reforms.
With a mere 39 cents on hand for every dollar needed to pay for future benefits, the state would need a three-year government shutdown just to break even.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...