On top of the state’s massive pension debt, Illinois taxpayers are saddled with another $54 billion in debt for retiree health benefits. For years, retired state and university workers have paid little or nothing toward the cost of their health insurance premiums. With the annual cost for these benefits rapidly approaching $1 billion and crowding out other...
Property taxes are rising, state income taxes are higher, unemployment is nearly 9 percent and local governments are supposedly cash-strapped. Schools are cutting programs, and police and fire pensions are crowding out spending on core local services. Yet local governments continue to waste the money of hardworking Illinoisans. Each year local governments in Illinois make payments for a wide...
The national unemployment rate may have dropped to 7.7 percent in November from 7.9 percent in October, but the nation is making little progress on the road to a full economic recovery. Though a decrease may seem encouraging, the reality of these numbers is not: The rate dropped because more than 350,000 people left the...
The dust has settled from an uneventful veto session. No progress was made. The one attempt at reforming Illinois’ out-of-control pensions that legislators put forward is a step in the right direction, but ultimately would perpetuate the crisis by failing to prescribe the right medicine for the problem at hand. And the efforts to make things...
There was very little legislative activity during the past two weeks of veto session in Springfield. However, several bills have been further positioned to move during special session in January, when lame duck legislators will retain voting power, even though they were voted out of office in November. The following is a recap of the...