Illinois’s Fake Pension Fix

From today’s Wall Street Journal editorial page: on.wsj.com/1bEMCcs The most dysfunctional state government lives down to its reputation. “Democrats in Illinois have dug a $100 billion pension hole, and now they want Republicans to rescue them by voting for a plan that would merely delay the fiscal reckoning while helping to re-elect Governor Pat Quinn. […]

Incumbency Protection Racket

While discussing the latest IRS scandal — the one about how the IRS has been (is still) stacking the deck against non-lefty nonprofits seeking tax-exempt status — the Wall Street Journal‘s James Taranto mentions another kind of deck-stacking: campaign financial regulation. Seems that Hillary Clinton, still running for president, is using her serially disgraced husband’s 501(c)3 foundation as a launching […]

Illinois could be first state to go broke

Illinois’ public pension crisis is still making news and despite a $7 billion state income tax hike last year, state government remains far behind in paying its bills.  The Teachers’ Retirement System (TRS) recently readjusted its view of expected rates of return on its investment portfolio. “The lower expected rate of return from 8.5 percent […]