Posts tagged "pensions"
What's up this week: Pension pinch, special session called in Springfield, little expected out of it
Race, poverty and politics: Chicagoland foreclosures spike; public grumbing over River Point TIF; Quinn says pension costs could surpass state's education spending
Chicago-area foreclosures in July were 37 per cent higher than they were a year ago. Citing RealtyTrac data released Thursday, The Chicago Tribune reported that 11,885 homes in Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties were in some stage of foreclosure last month: 5,374 entered the foreclosure process; 3,274 were scheduled for a... Read more »
Race, poverty and politics: Health exchange in limbo; subsidized child care at risk; Obama supports gay marriage; TIF reform?
The Illinois General Assembly is not expected to make any moves to create a state-run health care exchange, Crain’s reported on Thursday. Sources on both sides of the aisle in the statehouse said the inactivity is due to the pending Supreme Court decision on the constitutionality of the President Barack Obama’s sweeping health care law.... Read more »
Here’s a week’s worth of political news corralled by the good folks at The Chicago Reporter: After he called for $2.7 billion in Medicaid cuts in his February budget speech, Governor Pat Quinn finally released the details of his “save Medicaid” plan Thursday. Cuts to the program, which provides healthcare for some 2.7 million needy... Read more »
As unemployment benefits start to run out, Gov. Pat Quinn announced yesterday that he is extending the “Put Illinois to Work” program, which has employed 26,000 Illinoisans, until Jan. 15. The extension was paid for with $47 million from the $1.3 billion sale of tobacco bonds, which are backed by payments the tobacco companies make... Read more »
Chicago’s pensions are facing insolvency based on the city’s current and projected obligations, Chicago Tribune reported today. Firefighters, teachers, police officers and other city workers might find themselves in financial dire straits upon their retirement due to a draining of the system to meet short-term budget needs. Among the costly decisions made by city officials... Read more »