Illinois' chronic under-spending, a "structural deficit" resulting from the state's failure to raise enough money each year to cover the growing cost of state services, and the failure to refinance $133 billion in unfunded pension liability since 1995 have caused many problems, said Allison Flanagan, co-author of a new analysis released Thursday by the progressive Center for Tax and Budget Accountability. The CTBA's full report is linked here.
Illinois does under-spend, our state parks and facilitates are garbage, and we don’t spend enough for other services. Our crown jewel – Illinois State Beach – is a dump. Because there’s little money left over for basic stuff after paying the pensions, medicaid, and the interest on our debt.
nixit
5 years ago
Uh oh, Ralph is peddling pension re-amortization again. His chart looks great until you read the fine print: 72% target funding in 2045 instead of 90% and we have to borrow money via risky POB’s to even get that close.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
“Illinois chronic under-spending….” ???
Illinois does under-spend, our state parks and facilitates are garbage, and we don’t spend enough for other services. Our crown jewel – Illinois State Beach – is a dump. Because there’s little money left over for basic stuff after paying the pensions, medicaid, and the interest on our debt.
Uh oh, Ralph is peddling pension re-amortization again. His chart looks great until you read the fine print: 72% target funding in 2045 instead of 90% and we have to borrow money via risky POB’s to even get that close.
Re-amortization = can kick.
This article proves that the term “progressive think tank” is an oxymoron.