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Illinois Budget Failures Continue
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Blog

Illinois Budget Failures Continue

The State of Illinois is a basket case.  Unable to control its reckless spending, the state legislature approved a budget that calls for higher spending, even though the state has billions in unpaid bills and tens of billions in unfunded pensions. The pension problem, and the promises officials have made to state workers to get their votes, are now too big to ignore.

06/27/2013
Illinois' Pension Crisis: The Future of American Entitlements
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Illinois' Pension Crisis: The Future of American Entitlements

Sit up and take notice, Washington – the future of America’s entitlements is unfolding before you in the form of the Illinois pension crisis. Illinois’ five state-funded pension systems were almost $100 billion too small to meet promised pension obligations, potentially affecting state employees, “down-state” teachers (Chicago teachers have their own pension problems), state university employees and even General Assembly members.

04/03/2013
Utah Shows How to Solve the Looming Public Pension Crisis
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Utah Shows How to Solve the Looming Public Pension Crisis

Public employee pensions are a ticking fiscal time bomb. Nearly every state in the nation is struggling to reform their broken pension plans. For many years, public sector unions have over promised government workers lucrative pensions that they cannot afford to pay. This has created a looming crisis for state budgets and taxpayers. It could be even worse than officials are predicting.

01/20/2011