The State of Illinois’ unfunded liabilities will increase by $2.4 billion to $139 billion

After Gov. Pritzker, Boss Madigan budget, let’s change state slogan: Illinois-Shut Up and Take It.
by John Kass
June 7, 2019

…Illinois’ new state slogan should be: Just shut up and take it…Especially now that Gov. Big Boy and his boss, House Speaker Michael J. Madigan and the iron-fisted Democratic legislative majority have passed an amazing $40 billion operating budget and another $45 billion capital spending plan chock-full of pork and dripping with pork fat. They’ve done it in just days, in the shadows, crafting $85 billion in spending for a state that’s broke, on the edge of insolvency, a state with billions in unfunded public pension liabilities, a state that can’t pay its bills. A state that can’t withstand even a tiny recession. READ MORE

ILLINOIS POLICY Illinois state lawmakers introduce, pass $85 billion in spending in 12 hours  Lack of solid budgeting basics has played a large part in giving Illinois the lowest credit rating of any state, billions of dollars in unpaid bills and the highest pension-debt-to-revenue ratio of any state in history.

ZERO HEDGE Pritzker’s Untruth: Illinois’ Budget Is Billions Out Of Balance Politicians on both sides of the aisle can pat themselves on the back all they want for passing a budget. But the truth is they’ve just made Illinois’ debt crisis even worse. They’re not paying what they should, nor have they passed a single structural reform that would help lower the annual cost of retirements. (In fact, they’ve done the opposite by reboosting pension spiking for teachers.)


This entry was posted in Politics and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.