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Author Archives: Steve Reick
“We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein
The Governor’s SOTS Speech, What He Said and What He Didn’t Say
Every “State of” speech I’ve ever heard follows the same script: A recitation of accomplishments achieved since the previous speech; A shopping list of proposals to be addressed before the next one; and A reminder that those who stand in … Continue reading
Illinois Can’t Balance It’s Budget by Taxing Retirement Income
Back in December, the Northwest Herald ran a story about a proposal to make retirement income subject to Illinois income tax. On December 2, Rep. Dave McSweeney sponsored House Resolution 890, which states that: “We state our belief that the … Continue reading
Posted in Public Pensions, Uncategorized Tagged Dave McSweeney, Illinois Budget, Public Pensions 2 Comments
Choosing Among Bad Options to Fix Our Pension Mess
So now we know that next year the State of Illinois will have to shell out 24% of its state budget just to pay pensions, and we strongly suspect that we’re having smoke blown at us if we believe the … Continue reading
Is the Underfunding of Our Pensions 3 Times More Than Advertised?
We’re being told that our public pension plans are underfunded by $111 billion. That’s bad enough, but what if the underfunding is actually 3 times that amount? Continue reading