Illinois resorted to POBs because pension costs were quickly increasing. But instead of reforming the system, political leaders chose to paper over the problem with debt.
Simple logic. Respect for rights. These are things Illinoisans are not used to seeing from their state government, so perhaps it’s understandable that some are having trouble understanding what Rauner has done and why he has done it.
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...