Archive for August 2010

Pension reforms, spending cuts must come before tax hike

Illinois is broke. In the short run, it is running out of cash – and borrowing to cover its own operations as well as to fund health care, schools, local governments and social services. Or it simply fails to pay its bills – borrowing, in effect, from its suppliers. In the longer run, Illinois operates... Read more »

R. Eden Martin: Incredible that it's business -- and politics -- as usual

By R. Eden Martin David Vaught, Gov. Pat Quinn’s budget director, told Bloomberg News last week that the governor, if re-elected, would seek to increase the state income tax on personal income from 3 percent to 5 percent next January. The campaign of his Republican opponent, state Sen. Bill Brady, immediately jumped on this story,... Read more »

Pension reform needed to help solve the state's messy financial situation

By R. Eden Martin The Evanston Review reported July 28 that the director of the union-backed Illinois Retirement Security Initiative (IRSI) recently told an Evanston audience that reforming the state’s pension system would “… jeopardize the state’s ability to hire the best people for public sector positions.” (“Speaker: Pension bloat overblown”) Your readers should make... Read more »
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Higher Education Hurt By Illinois Fiscal Crisis

Without Budget Reform Colleges and Universities Will Continue To Suffer By Stanley Ikenberry The people of Illinois and our state government are in the midst of an unprecedented crisis. Illinois is unable to pay its bills. We are heavily in debt and face the prospect of borrowing even more. And yet the state budget approved on... Read more »