-- Connecting the dots between our economy, government and business --
What’s clear is that, contrary to persistent claims by public unions, the Contract Clause does not spell doom for addressing our pension crisis through a constitutional amendment. Rhode Island indicates it would work.
“To hear some Republican leaders talk about how we have to raise taxes because Illinois taxpayers don’t currently pay enough to cover our spending programs is shocking. These are Democrat talking points and they are embarrassing.”
“There’s no question we’re going to have to come to the taxpayers and ask for additional revenue. What that ask is, I think remains an open question because we’re still trying to get our arms around how big is the deficit for next year and what can we do to winnow it down,” Lightfoot said.
Lightfoot has previously disputed the Emanuel administration’s $700 million estimate, saying, “It’s worse than that,” though her administration has not provided its own estimate. By 2023, Lightfoot will need to come up with nearly $1 billion in additional annual pension payments.
“We have not and will not own uninsured general obligations of the State of Illinois, or bonds from the City of Chicago and Chicago Public Schools,” says Franklin Templeton. Lots more here on Illinois and Chicago. This research report was referenced in a Blooomberg article posted here a couple weeks ago.
See our own article linked here explaining why this decision validates the path for Illinois to amend its constitutional pension protection clause and proceed with real pension reform.
Board President Angelo Kyle said he cancelled the event in part because he wanted the district to look at other issues like global warming and climate change.
Includes a link to the opinion.
The measure removes restrictions on abortions later in one’s pregnancy. The new law also repeals Illinois’ partial birth ban and the state’s 1975 abortion act, in addition to expanding insurance coverage for procedures and for contraception.
Comment: And that’s using the state’s phony cash-only budget accounting that ignores the real problem — annual run-up in unfunded pension and retiree healthcare liabilities.
“The state’s decision to legalize gambling and marijuana helps immediate problems but delays the state’s inevitable financial collapse.”
A republication of our Wirepoints article.
“Something you should probably understand is that a lot of people are serious about this separation business, even if most of us regard it as kooky.”
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