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Tag Archives: Pension Debt
There’s a “Red Menace” Made of Ink, and We’re Drowning In It
I published the following post last December. With the defeat of the Governor’s so-called “Fair Tax” amendment, it seems an appropriate time to bring it around again. . The Chicago Tribune has published the story of a family trying to … Continue reading
Posted in Cost of Government, State Government
Tagged Budget, Pension Debt, State Debt
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Debt Option #3: Bankruptcy
BANKRUPT: bank·rupt /ˈbaNGkˌrəpt/ adjective: bankrupt (of a person or organization) declared in law unable to pay outstanding debts. . By all conventional measures, Illinois is bankrupt. The State Supreme Court would disagree, having said in its decision to strike down … Continue reading
Posted in Cost of Government, Public Pensions, State Government
Tagged Bankruptcy, Default, Pension Debt, Public Pensions
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It’s Not the Pension (Entirely), It’s the Debt
“If something cannot go on forever, it will stop.” – Herbert Stein’s Law In his budget address this week, Governor Rauner made big news by proposing that the employer portion of the normal costs of teacher pensions be shifted from … Continue reading