Governor Walker wins big against public unions!
Most headlines Wednesday morning were variations of Walker “survives” close recall election. The actual facts are not only did Walker become the first governor to win a recall election; he improved his...
View ArticleIllinois needs Governor Walker to fix some of its problems
Illinois needs Governor Walker’s assistance regarding public employee benefits and collective bargaining and to help straighten out the fiscal mess like he did in Wisconsin. Many teachers in the state...
View ArticleState pension problems being solved on taxpayer’s backs
Even the Democrats in Springfield are seeing that there is little hope for an easy solution to the over $80B pension shortfall, considering the pension calculations are based on a return on investment...
View ArticleQuinn wants federal government pension bailout guarantee
Illinois is one of the public union states that will one day need a federal bailout because of their pension shortfalls. Governor Quinn has now made that official by pointing out in his budget proposal...
View ArticleMoody’s downgrades Illinois’ credit rating to worst in U.S.
Illinois’ credit took another turn for the worst last Thursday, when Moody’s Investment Services downgraded the state’s credit rating from stable to negative outlook. Illinois’ credit rating is now...
View ArticleHB2375 makes Illinois 67% income tax increase permanent
Illinois temporarily raised its income tax from 3 to 5 percent in 2011 and has put nearly all of our new tax dollars into its failing pension system. Next year the state will spend almost as much on...
View ArticleThe case for choosing Social Security benefits at age 62
Many Social Security experts opine that if you don’t need the money now, and you are in good health, then their advice is to wait at least until you are 66 years old, or 70 years old if you can, to...
View ArticleIllinois, like the U.S. government has spending problem
A recent post discussed the perennial debate between those who advocate for smaller government and those who advocate for bigger government. The debate usually centers on the question, “Does the...
View ArticleIllinois public unions will sue regardless of pension plan chosen
James McNamee, President of the Illinois Public Pension Fund Association, wrote in response to Scott Reeder’s column, Don’t worry about pension lawsuits; worry about savings, that “An unconstitutional...
View ArticleIllinois Public Pensions, Municipal Bankruptcy and Illinois taxes
The unfunded liabilities facing government pension plans have gained increased public scrutiny during the past year. Governing entities and taxpayers are beginning to recognize the potential...
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