Moody’s: Illinois 2011 unfunded liability jumps by 65 percent

By Chris Andriesen

06/28/2013

by Ted Dabrowski and John Klingner Moody’s Investors Service reported that Illinois’ true unfunded pension liability in fiscal year 2011 was nearly 65% higher than the state’s official estimate. In its report titled “Adjusted Pension Liability Medians for U.S. States,” Moody’s calculated the unfunded liabilities for Illinois’ three largest state-run pension plans at $133 billion, compared...

Illinois’ seemingly endless appetite: another $1.3 billion borrowing

06/27/2013

by Ted Dabrowski As if Illinois didn’t have enough debt to deal with, the state borrowed another $1.3 billion. The state says it needs the money for infrastructure projects. Illinois tapped the bond markets despite the current fallout from the state’s failure to reform pensions and the recent bond market instability, which drove states like...

Illinois’ new normal: chronic unemployment

06/22/2013

by Ted Dabrowski and Paul Schumacher Despite Illinois’ improved May unemployment numbers, the state continues to lag the nation in job creation. Illinois has the second-highest unemployment rate in the nation – a position it has held since March. Illinois’ jobless rate dropped to 9.1 percent from 9.3 percent in May, according to the Bureau...

Illinois’ failing economic model: more food stamps, fewer jobs

06/12/2013

by Ted Dabrowski and John Klingner Illinois added nearly three times more people to its food stamp program than it added in jobs over the past year – just another confirmation that the state’s economic model is failing. Between February 2012 and February 2013, Illinois added nearly 200,000 new enrollees to the Supplemental Nutrition Assistance Program,...

National unemployment rises to 7.6 percent in May

06/07/2013

by Ted Dabrowski and John Klingner The Bureau of Labor Statistics announced today that the national unemployment rate rose in May to 7.6 percent from 7.5 percent one month earlier. Non-farm private payrolls rose by 175,000. The payroll growth, which has averaged 172,000 over the past 12 months, continues to be significantly below the range needed...

Fitch downgrades Illinois after lawmakers fail to pass pension reform

06/03/2013

by Ted Dabrowski Fitch Ratings downgraded Illinois’ credit rating to “A-” from “A” after the General Assembly failed to move forward on pension reform before the end of the spring legislative session. In its statement announcing the downgrade, Fitch called Illinois’ pension liability “unsustainable” and said it was concerned about the state being able to...

Will Illinois legislators break their promise to reduce taxes?

05/31/2013

by Ted Dabrowski and Paul Schumacher In 2011, when Illinois legislators passed the largest income tax increase in the state’s history, they promised to roll back the increase beginning in 2015. “We have some temporary tax increases that are designed to pay our bills, get Illinois back on fiscal sound footing and make sure that our state...

Illinois one of only 7 states with unemployment higher than one year ago

05/20/2013

by Ted Dabrowski and John Klingner Illinois continues to have the nation’s second-worst unemployment rate, according to the Bureau of Labor Statistics’ April labor report. The state’s unemployment rate dropped to 9.3 percent in April, down from 9.5 percent in March, and is still nearly two percentage points above the 7.5 percent national average. The state’s drop...

Illinois was the only state to see a double-digit year-over-year jump in food stamp use

05/14/2013

by Ted Dabrowski Food-stamp use rose 2.7% in the U.S. in February from a year earlier, with 15% of the U.S. population receiving benefits. The number of recipients in the food stamp program, formally known as the Supplemental Nutrition Assistance Program (SNAP), reached 47.6 million, or nearly one in seven Americans. With more...

Illinois lawmakers push to keep kids and education from 21st century learning

05/06/2013

by Ted Dabrowski* With a bill that blocks the authorization of any new virtual charter schools, state Rep. Linda Chapa LaVia, D-Aurora, aims to slow Illinois’ move into the 21st century. Her law, House Bill 494, calls for a one-year moratorium “on the establishment of charter schools with virtual-schooling components in school districts other than [Chicago...

Ted Dabrowski

Moody’s: Illinois 2011 unfunded liability jumps by 65 percent

Illinois’ seemingly endless appetite: another $1.3 billion borrowing

Illinois’ new normal: chronic unemployment

Illinois’ failing economic model: more food stamps, fewer jobs

National unemployment rises to 7.6 percent in May

Fitch downgrades Illinois after lawmakers fail to pass pension reform

Will Illinois legislators break their promise to reduce taxes?

Illinois one of only 7 states with unemployment higher than one year ago

Illinois was the only state to see a double-digit year-over-year jump in food stamp use

Illinois lawmakers push to keep kids and education from 21st century learning

Chicago Forward 2026: A pro-growth plan to end city budget deficits

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Diana Graham

Process for unionizing non-state workers raises red flags

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students