-- Connecting the dots between our economy, government and business --
“Fully funded pensions” and “balanced budget.” They’re probably the most perniciously deceitful phrases used by Illinois politicians. If they were true, we’d have no fiscal crisis. The false narrative those phrases perpetuate is central to how Illinoisans allowed the state to snore into deep insolvency.
Ted explained to Quaid of WTAD why Gov. Pritzker’s claim of a “balanced” 2020 budget is bunk. Lawmakers are only contributing what they want, not what the state’s actuaries say is the responsible amount.
Comment: Actually, nobody seems to be buying it, except some stenographers pretending to be reporters.
The Center for Illinois Politics, a Chicago-based nonprofit, compared the progressive tax rates approved by lawmakers with other states that have progressive income tax systems.
God forbid that somebody tries to get their money’s worth on construction costs.
A major California bankruptcy could lead the Chicago-based power giant to lose most of its wind farms—and a huge solar power ranch—thanks to a decision two years ago to mortgage them for hundreds of millions.
The “giveaway to teachers unions is the strongest sign yet that the Democrats who control both houses of the General Assembly as well as the Governor’s Mansion work for them and no one else.”
https://www.cnbc.com/2019/06/14/five-reasons-why-your-high-tax-state-wont-let-you-move-out.html
“People are mobile. And they will go to a better tax environment. That is not a hypothesis. That is a fact. People act in their own economic interest. Businesses act in their own economic interest.”
— New York Gov. Andrew Cuomo in February,
Comment: It’s utterly stupid and irresponsible to call this budget “balanced,” as we’ve documented endlessly. And, by the way, there is no budget yet from the General Assembly or Pritzker — just cherry picked releases and thousands of pages still being read. There is nothing with line items, even a summary.
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