Cook County taxpayers are not only on the hook for their share of the state debt, but also for $140 billion in local debt. Cook County taxpayers collectively are on the hook for more than $140 billion in pension, construction and other debt that’s been run up by the county and its 553 local governments. [...]
Illinois 3rd-worst in nation for business, CEO survey says
May 3, 2012 By
Once again Illinois ranks 48th state to do business. Only New York and California ranked worse. Texas was ranked the best state for business for the eighth consecutive year, followed by Florida, North Carolina, Tennessee and Indiana. Most of the top 20 states are also right-to-work states, a key factor in their attractiveness to CEOs, [...]
$52 Billion in School District Spending Online
May 2, 2012 By
For the Good of Illinois has placed vendor contracts for school districts online at OpenTheBooks.com. Of this total, $48 Millions was spent on Taxi rides. Here’s how it broke down by district (2006-11): 822 school districts spent zero on taxi cab service 42 districts spent over $28 million 5 districts spent over $20 million In [...]
Education is the Key to a Healthy Economy
May 1, 2012 By
In addressing our current fiscal and economic woes, too often we neglect a key ingredient of our nation’s economic future—the human capital produced by our K-12 school system. An improved education system would lead to a dramatically different future for the U.S., because educational outcomes strongly affect economic growth and the distribution of income. Click [...]
How Retirement Benefits May Sink the States
May 1, 2012 By
Chicago Mayor Rahm Emanuel recently offered a stark assessment of the threat to his state’s future that is posed by mounting pension and retiree health-care bills for government workers. Unless Illinois enacts reform quickly, he said, the costs of these programs will force taxes so high that, “You won’t recruit a business, you won’t recruit [...]
Yes, Public School Districts Should Pay for Pensions
April 27, 2012 By
Those who create the costs should pay for the costs. My, my, there is certainly a lot of wailing and gnashing of teeth over Gov. Quinn’s proposal to ask the local school district’s to pay part of the cost of the pensions. Everyone both Democrat and Republican are against it. The concern is the increase [...]
Retired College Teacher With $152,000 Pension Claims Pension Reform is Theft
April 27, 2012 By
Michael Corn, a retired college teacher, recently wrote a letter-to-the-editor at the Daily Herald equating the unfunded Illinois pension system with theft. And I agree it is theft but I would argue the thief is the public employee not the legislature or taxpayer as Mr. Horn claims. Mr. Corn laments that he paid 8% for [...]
Teaching Students to Protest
April 27, 2012 By
From Breitbart: Jones College Prep, a Chicago Public Schools “selective enrollment” school, held “Social Justice Week” in March, a collection of events geared towards turning students into activists. Here is the video of what the students were taught: Arne Duncan, Secretary of Education also approves of teaching students to protest: Arne Duncan’s stand is no [...]
Gov. Quinn’s Pension Reform Plan
April 25, 2012 By
Gov. Quinn released his pension reform plan. The basics of it are the following: Employees pay an additional 3 percent of their salary toward their pension Change COLA (cost of living adjustment) increases to 3 percent, or one-half the rate of inflation — whichever is smaller Gradually raise the retirement age to 67 (currently as [...]
Pension Reform Plan: Taxpayer Costs Must be Fixed, not Unlimited
April 23, 2012 By
“If 50 people say you’re drunk you probably ought to lie down.” – Jim Rockford, Rockford Files The discussions going on in Springfield regarding pension reform still have not addressed the key concern: taxpayers must have a reasonable, fixed annual cost going forward. They cannot be on the hook for everything that can and will [...]
