-- Connecting the dots between our economy, government and business --
Central Falls, Rhode Island, filed for bankruptcy largely because of pension debt. If Illinois municipalities can’t meet or lower their pension obligations, they too could face fiscal collapse.
Chicago’s South Side will see $132 million in federal funding to separate rail lines in an effort to alleviate train congestion in the area.
“For the political elite, this budget is a perfect sign of progress. They’re all getting along. There are no fights. No impasse. No real debates over reforms. Everybody is lined up to do the exact same things we’ve been doing forever. The sad thing for Illinoisans is this budget is not good for them.”
Listen to Illinois education officials’ demands for more money and it’s easy to believe Illinois grossly underspends on K-12 education. But the truth is Illinois already spends more on education than any other Midwest state. It’s just that much of the money is going to all the wrong places. Billions of dollars are being siphoned away from the state’s poorest districts by the state’s burgeoning education bureaucracy.
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