Illinois politicians vote to divert $300M from state coffers to fuel local spending

Despite Illinois’ billions in deficit spending and skyrocketing debt, the Illinois House of Representatives passed House Bill 278, which would transfer an additional $300 million per year of state income tax funds to local governments, continuing to prop up local overspending that fuels high property taxes.   The Illinois House of Representatives voted March 7 …

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Interest on Illinois’ pension debt is $9.1B per year

Interest on Illinois’ pension debt is $9.1B per year Illinois isn’t covering the interest payments on its pension debt. Those interest payments total $9.1 billion a year. From Illinois policy March 2017 A golden rule of finance is this: Debt that can’t be paid won’t be paid. Illinois isn’t covering the interest payments on its …

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Let The Sun Shine On Federal Pensions

$3.5 Trillion Taxpayer Liability Housed Inside A Cave – Let The Sun Shine On Federal Pensions Adam Andrzejewski ,   CONTRIBUTOR I cover the “daily greed” of national, state, and local politics. Opinions expressed by Forbes Contributors are their own. What has a $3.5 trillion unfunded liability, manually calculated on paper inside a Pennsylvania mountain, and …

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