Entries by Terri Hickey

New Report Finds Taxpayer Burden in Illinois Third Worst in U.S.

The Chicago-based think tank and government financial watchdog Truth in Accounting today releases its annual report, “Financial State of the States,” which uses fiscal year 2014 data to provide citizens with a clear picture of their governments’ financial conditions. TIA has identified Illinois as one of the worst five “Sinkhole” states, those with the highest Taxpayer Burdens. Each taxpayer in […]

WSJ: Debt, Growth Concerns Rain on Deficit Parade

The Wall Street Journal reports that while the U.S. budget deficit is lower than before the 2008 financial crisis, there are concerns on two fronts, one about the nation’s debt load and the other about the economy. Deficit hawks are concerned that the improvement will lead both parties to overlook the red ink set to […]

Illinois job creation on a four month decline

The Illinois Department of Employment Security announced September job numbers last week and they add up to more job loss. Says Jeff Mays, director of IDES: “It’s been six years since the recession and job growth is still dismal.  We’ve got a long way to go before Illinois realizes real employment and economic recovery.” You can […]

Bad news for Illinois’ credit rating

Illinois has the worst funded pension systems and the lowest credit rating of any state and looks like things may get worse, according to an AP story that appeared on 550 KTRS: “A major credit rating agency says Illinois’ inability to make a November payment to its pension funds could hurt the state’s already dismal credit […]