Illinois Budget
Yeah, you’ve heard it all before, right? Springfield adjourns, patting themselves on the back for a job well done. Then the dust settles and we simple-minded constituents figure out what we’re going to have to foot the bill for now. The latest is mind-boggling: in a state that is many billions in debt, and in an economy that is seeing more hard-working Americans jobless, the legislature is actually spending more than they bring in…
You’ve heard all the slogans and monikers: “Tax-and-spend,” “Spend less - tax less,” “Borrow more - tax more - spend more,” and even “Cut - Cut - Cut.” Now Springfield has a new one: “Tax more - spend more - don't pay bills - force the problem on to the next generation.” It’s a convenient strategy, since lawmakers are simply focused on their next elections. But in the midst of a recession that is…
The headline of this Sun-Times article says it all: “Unions win as Illinois lawmakers put off pension reform until fall.” See the article here. The truth is that unions spearheaded a potent grassroots effort and pressured lawmakers into turning against the commonsense measure. Once again special interests have won the day in Springfield. And don’t believe that lawmakers will have more courage in the fall when their campaigns have begun and they’re looking for…
From the Illinois Budget Action Group: The Illinois legislature has recently "punted" on decisions regarding fiscal reform, workers compensation reform and public pension reform. The people of this great state apparently elected representatives who could ONLY agree on gambling as THE economic solution. So why is this the case?
There is serious concern that Illinois could become America’s Greece. Treasurer Dan Rutherford, the chief fiscal officer of the state, is sternly warning Illinois legislators and leaders that any additional borrowing could cause the state to go bankrupt. He has provided leadership on the issue, explaining that the state is in a deep hole (debt from past borrowing has soared to $45 billion with a backlog of unpaid bills reaching $8 billion) and we cannot…
A statewide effort has been launched by a number of conservative organizations and individuals to force Springfield to address the massive pension problem facing Illinois.$7 billion of our $12 billion structural deficit is related to generous pension and retiree health care programs for government workers that Illinois simply cannot afford. These generous programs will have racked up more than $140 billion in debt and unfunded liabilities by the end of FY2011! Learn more here. Be…