Pritzker budget plan doesn’t resolve structural deficit, other financial ills, report says – State Journal-Register (Springfield)

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.
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Mike
5 years ago

“Illinois chronic under-spending….” ???

debtsor
5 years ago
Reply to  Mike

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.

Last edited 5 years ago by nixit
Admin
5 years ago
Reply to  nixit

Re-amortization = can kick.

Heyjude
5 years ago

This article proves that the term “progressive think tank” is an oxymoron.

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