Presidential debate facts: Illinois edition
Presidential debate facts: Illinois edition
How has Illinois performed under President Obama?
Gov. Quinn named “Porker of the Month”
Gov. Quinn named “Porker of the Month”
Last week, Citizens Against Government Waste, or CAGW, named Gov. Pat Quinn their September “Porker of the Month.” This monthly “award” is given to politicians and public officials who have “shown a blatant disregard for the interests of taxpayers.” As we’ve previously reported, Gov. Quinn’s fiscal year 2012 budget floated the idea of having the federal government guarantee the...
Another day, another CPS downgrade
Another day, another CPS downgrade
Last week, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. Today, it’s Fitch Ratings that’s downgrading CPS. The school district’s credit rating now sits at A with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Fitch, the downgrade was caused by the district’s deteriorating...
Unemployment increases, but underemployment is even higher
Unemployment increases, but underemployment is even higher
The nation’s unemployment rate increased to 7.9 percent in October from 7.8 percent in September, according to the Bureau of Labor Statistics. If that number is a reflection of the country’s anemic recovery, consider the implications of Illinois’ 8.8 percent unemployment rate in September. There are more than 580,000 Illinoisans formally out of work. And these...
Institute in Pensions and Investments: Republicans build up, then fight, issue of bailouts for pension funds
Institute in Pensions and Investments: Republicans build up, then fight, issue of bailouts for pension funds
Concern over underfunding of both public and corporate pension plans has Republican presidential candidate Mitt Romney, his party and other conservatives making a pre-emptive strike against the idea of federal government bailouts.
Institute on FoxNews.com: DeMint joins national effort to keep feds from bailing out state pensions
Institute on FoxNews.com: DeMint joins national effort to keep feds from bailing out state pensions
Illinois Democratic Gov. Pat Quinn is getting hit with a nationwide backlash over his suggestion that the federal government bail out the state employees
Institute in The Spokesman-Review: Don’t bail out state pension funds
Institute in The Spokesman-Review: Don’t bail out state pension funds
The financial meltdown and Great Recession is teaching an expensive lesson: When big institutions face financial crises, governments are all too eager to bail them out.
State 48
State 48
Illinois’ state debt: Illinois’ total state debt is $271 billion Illinois’ state debt has ballooned to $51,000 per household Illinois has roughly $9 billion in unpaid bills Illinois will spend more on pensions than on education by 2016 Illinois’ economic performance: Illinois is 47th in job growth Illinois is 48th in economic outlook Illinois is 48th in...
CTU strike deal leads to CPS credit downgrade
CTU strike deal leads to CPS credit downgrade
On Thursday, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. The school district’s credit rating now sits at A2 with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Moody’s, the downgrade reflects CPS’s weakened financial condition, caused primarily by the facts that:...
Gov. Quinn attacking the Institute on CapFax blog
Gov. Quinn attacking the Institute on CapFax blog
Why the No Pension Bailout project matters
Why the No Pension Bailout project matters
The goal of No Pension Bailout is to prevent the federal government from bailing out Illinois or any other states that have mismanaged their funds. We oppose a bailout because not only would it destroy state sovereignty and the concept of fiscal federalism once and for all, it would also transfer trillions of dollars from...
Five things you need to know about AFSCME vs. Gov. Quinn
Five things you need to know about AFSCME vs. Gov. Quinn
Negotiations between the State of Illinois and District Council 31 of the American Federation of State, County, and Municipal Employees are at a standstill.
New JEC report shows why spendthrift states need structural reform, not a bailout
New JEC report shows why spendthrift states need structural reform, not a bailout
A new report by the Joint Economic Committee, or JEC, provides even more evidence that the federal government should never bail out state pension debt. Here are just a few of their findings.
Gov. Quinn refuses to rule out accepting federal bailout of Illinois’ pension debt
Gov. Quinn refuses to rule out accepting federal bailout of Illinois’ pension debt
Last week the Illinois Policy Institute launched "NoPensionBailout.com," a national project aimed at preventing a federal bailout of state pension debt.