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Tag Archives: Public Pensions
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
Long before I was elected to the House, I’ve been talking about Illinois’ pension crisis (here, here, here and here, to name a few). Since that time, our accumulated pension debt has risen from “just” over $100 billion to somewhere … Continue reading
With more than $7 billion of unpaid bills and (depending on who you ask) $130-$200 billion in unfunded pension liabilities, a credit rating hovering just above “junk” status and people and businesses fleeing in droves, there are no easy answers … Continue reading
It’s January 1, and we’re a little over a week from starting a new General Assembly and less than two weeks from swearing in a new Governor. Republicans in Springfield have no choice but to hope that despite being in … Continue reading
Governor Rauner certainly got everyone’s attention last week when he proposed that the employer’s share of pension costs be shifted from the State to local school districts. . The pension shift has been a topic of conversation for some time. … Continue reading