Last week, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. Today, it’s Fitch Ratings that’s downgrading CPS. The school district’s credit rating now sits at A with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Fitch, the downgrade was caused by the district’s deteriorating...

Concern over underfunding of both public and corporate pension plans has Republican presidential candidate Mitt Romney, his party and other conservatives making a pre-emptive strike against the idea of federal government bailouts.

Illinois Democratic Gov. Pat Quinn is getting hit with a nationwide backlash over his suggestion that the federal government bail out the state employees

The financial meltdown and Great Recession is teaching an expensive lesson: When big institutions face financial crises, governments are all too eager to bail them out.

On Thursday, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. The school district’s credit rating now sits at A2 with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Moody’s, the downgrade reflects CPS’s weakened financial condition, caused primarily by the facts that:...

The goal of No Pension Bailout is to prevent the federal government from bailing out Illinois or any other states that have mismanaged their funds. We oppose a bailout because not only would it destroy state sovereignty and the concept of fiscal federalism once and for all, it would also transfer trillions of dollars from...

Last week the Illinois Policy Institute launched "NoPensionBailout.com," a national project aimed at preventing a federal bailout of state pension debt.