One graphic perfectly captures the absurdity of Illinois pensions over the past three decades.
Ted Dabrowski, Wirepoints News
You can trust public pension apologists to deflect any critique that calls out the failure of defined benefit plans. Unsurprisingly, their response to a recent Wall Street Journal editorial highlighting Wirepoints’ research was just that – deflection via misdirection and victim playing.
If you want to understand Illinois’ corrupt budget making process, take the example of how the legislature just “cleaned up” some of its unaccounted-for budget deficits.
Illinois media is widely reporting that no news on Illinois’ budget negotiations is good news – that a quiet battleground in the statehouse means all is well. Especially after a nasty near three year impasse between Gov. Bruce Rauner and House Speaker Mike Madigan.
Glance at the list of the Civic Federation’s Trustees and you’ll see a collection of Illinois corporate titans. Many of the 16 men and one woman are CEOs, heads of private equity, chairs of boards, investors or hugely successful entrepreneurs.
Gubernatorial candidates hurling insults instead of addressing 10 trends driving Illinois towards insolvency
With Illinois’ decline in full display for the nation to see, proposals for fiscal and spending reforms should dominate the campaign and political landscape. After all, virtually every budget and economic trend in Illinois is pointing towards insolvency sometime in the near future.