Totaling the unsustainable tax increases and windfall revenue during Pritzker Administration – Wirepoints
May 26, 2026
23 Comments
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
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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.
“The budget makes the state’s full STATUTORILY required pension contribution for fiscal 2021, which falls short of an ACTUARIAL level.” – Yvette Shields, Writer, Bond Buyer, May 26, 2020. vs. “Illinois law has put the state on a path to fund the pension liability in a manner that is ACTUARIALLY sound, and the state has been following the payment plan set out in that law.” – Don Harmon, Illinois State Senate President, April 14, 2020. https://fixedincome.fidelity.com/ftgw/fi/FINewsArticle?id=202005261548SM______BNDBUYER_00000172-5225-d4a7-abfe-feef81890002_110.1 http://www.documentcloud.org/documents/6842666-Illinois-coronavirus-request.html Obviously if the unfunded liability keeps GROWING, the plan is not actuarially sound. Actuarial payments are not necessarily sound. Actuarial Required Contribution payments… Read more »
The Edgar pension ramp is the same thing as the negative amortization loans that crashed the real estate market in 2007. Sure your credit report shows you made on time payments when in reality your balance would keep growing. What could go wrong?