Posts tagged "budget"

Just The Facts: A Primer on Illinois Pensions

Over the last few years we have all been engaged in an effort to find a sensible, workable solution to Illinois’ pension crisis. Simply put, the current pension system is unsustainable and poses the threat of overwhelming the state’s budget if left unaddressed. More immediately, the state’s broader budget issues cannot be resolved until the... Read more »

The Solution is Pension Reform. Let's Work Together to Save Our State.

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Illinois has a major problem on its hands — and, it’s not going away. It’s Illinois’ pension problem. And, it impacts us all. Whether you are a hard-working teacher, employee of the State, a taxpayer or a family trying to make ends meet, everyone in Illinois is affected. Watch here to learn more. How serious... Read more »

We Support Our Teachers - You Should Too!

We Support Our Teachers - You Should Too!
Last week, we released a video to inform suburban and downstate teachers in Illinois that their pensions are at risk. As you know, there are two sides to every story, and we felt it was important that teachers hear some of the facts that their leaders and others are not telling them. As you can... Read more »
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A Message to Teachers: the Truth about your Pension

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Illinois is Broke – $140 BILLION in debt – and if you’re a teacher its bad news for you. It’s basic math. There is not enough money to pay benefits to current retirees, much less you. That money being deducted from your pay check each month is going to pay benefits to current retirees. So... Read more »

It's time to act

You know what’s at stake — now we need to get to work. We’re just weeks away from a potentially historic vote on pension reform legislation that could save our state from financial disaster. I am writing, from one Illinoisan to another, to ask for your help in sending a powerful message to our leaders... Read more »

Make Your Voice Heard!

Illinois is STILL Broke, but we have launched exciting new features on our website to help you get involved in bringing Illinois back to financial stability!   Our added features make it easy for you to:    CALL YOUR LAWMAKERS Elected officials have raised your taxes but failed to address the REAL problem – $140 Billion in unfunded... Read more »
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Consider this before you vote Nov. 2

Illinois Is Broke – and public employee retirement programs are at the root of the problem. Unfunded retiree-related obligations for public employees and retirees in State pension plans now total over $130 Billion – more than $25,000 per Illinois household. The funding requirements for these programs are growing – totaling Billions of dollars each year... Read more »

Public pensions creating millionaires - and we pay for it

Illinois and its public employee pension plans owe $80 Billion in unfunded pension liabilities and another $13 Billion in outstanding pension debt – not to mention another $40 Billion in unfunded retiree health care liability.  Total:  over $130 BILLION.  And growing… With enough years of service, Illinois State workers can retire at age 55 with... Read more »

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 »
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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 »