Tuesday, July 16, 2019

Sign up for our newsletter

Beyond Harvey: Many Illinois municipalities running out of options – Wirepoints Special Report

Wirepoints has performed an analysis of 180 Illinois cities with both a dedicated police and fire pension fund, examining their finances and their pensions. The findings, which will be released in a forthcoming paper, are alarming. Look at the numbers – at the collapsing funding ratios, broken budgets, and unsustainable tax burdens – and anyone can see that many cities aren’t far off from a breaking point.  

Harvey, the first domino in Illinois: Data shows nearly 400 other pension funds could trigger garnishment – Wirepoints Special Report

You’d be mistaken to think Harvey, Illinois has a unique pension crisis. The mess is everywhere, from East St. Louis to Rockford and from Quincy to DanvilleA review of Illinois Department of Insurance pension data shows that Harvey could be just the start of a flood of garnishments across the state.

Illinois’ regressive pension funding scheme: wealthiest school districts benefit most – Wirepoints Special Report

The state's teacher pension funding scheme, where one unit of government doles out benefits while another one pays for them, has destroyed accountability and driven up taxes on struggling Illinoisans. And it’s regressive. Rep. McSweeney is wrong to ally himself with the IEA to block a pension cost shift.    

Why Rauner’s failures justify a reform agenda in Illinois

Gov. Bruce Rauner’s leadership failures have deflated the political pressure for reforms in Illinois. But his inability to change anything, ironically, only strengthens the case for structural reforms. The longer Illinois’ status quo policies remain in place, the more this state will continue to decline.

Springfield fiddles while Illinois cities burn – Wirepoints Special Report

Special report: Decades of state mandates have pushed up costs, taxes and debts to unsustainable levels for many cities. They’re either at the brink of bankruptcy because of unfunded pensions or have lost people and businesses due to high taxes and fewer services. The most unfortunate cities, like Danville Illinois, are suffering from both.

Recent Wirepoints Originals

Event – Wirepoints at AFP on 7/31/19: Unbalancing Act: IL’s Busted Budget

Illinois' 2020 budget is an unbalanced mess. What does that mean for ordinary Illinoisans? Come and listen to Wirepoints President Ted Dabrowski speak on July 31st at Americans For Prosperity in Rolling Meadows to hear the answer.

Leave a Reply

Your email address will not be published.

Is the Lawsuit To Invalidate Certain Illinois Bonds Frivolous? An Education is at Hand. – Wirepoints Original

On the central issue important to Illinoisans – what the constitutional limits on state borrowing really are – bring it on. Let’s hear it.

Leave a Reply

Your email address will not be published.

Wirepoints’ Mark Glennon: This is why Illinois pols haven’t fixed our fiscal crisis – Crain’s

"They haven't had to figure it out because you voters haven't figured it out. Wake up. Tell Pritzker and Lightfoot that pretty much every financial reform you've heard about must be effectuated immediately."

Leave a Reply

Your email address will not be published.

Latest Fed Raid Should Have Madigan & Friends Sweating – Quicktake

Some of the arrows flying out of the massive federal corruption investigation centered in Chicago are now pointed in a new direction.

Leave a Reply

Your email address will not be published.

Kenilworth Trustees to use TIF as a runaround to home rule

Kenilworth has no business creating a TIF, but it’s an effective way for officials to evade residents’ wishes.

Leave a Reply

Your email address will not be published.