Website Home   or   Forum Home

Riverside Info » About Riverside

1. spatny
   Member

   Somebody previously put up the link for the above mentioned Civic Federation website. One of them was on Chicago Tonight and I jotted down a few numbers as he spoke...

   Pensions; Illinois has $40 billion in various pension accounts, some more fully funded than others. But there is $100 billion unfunded...

   Back debt: $12.5 billion, $4 bil in unpaid bills...

   This is a generally conservative, pro business group but they claim a combination of tax increases and spending cuts is the onlything that can save the state from imminent collapse. They call for raising individual income tax to 5%, corporate rate to 6% and making $2.5 billion in spending cuts - which were not defined. That would include taxing retirement benefits which we currently don't do. IF this is done it will fill 84% of he hole and still leave $2.5 bil unfunded.

   Here's the catch: There are no Republican leaders that will go for raising taxes - they went over them one by one. So it won't happen. So, with that in mind, what is Plan B?

   Posted Monday Feb 22, 2010 21:08 #

2. anonymous
   Member

   I cannot support a tax increase, taking money out of my meager salary, to pay the pensions of government workers, some of whom receive 85 to 90 percent of their salary while they are were working. The salaries which were increased for the last three years before they retired. Many of them even double dip--receiving two pensions. Sorry. I can't support that.

   Posted Tuesday Feb 23, 2010 00:59 #

3. mr
   Member

   I agree with anonmymous. There has to be a real change in retirement benefits for public employees, and not just the ones that have yet to be hired, before they discuss a tax increase. Keep in mind that there are many in Congress who think that there should be changes to social security that involve cutting benefits. I can't support that either, while state and local workers on goverment pensions are allowed to work without cuts in benefits, have annual increases that are not related to the actual cost of living, and get four times Social Security benefits. Only about 18% of private sector workers get a pension at all, and there have been significant changes to the structure of those pensions over the last 20 years.

   Posted Tuesday Feb 23, 2010 09:56 #

4. PAR4
   Member

   Another fun read from Mish's Economic Analysis:

   http://globaleconomicanalysis.blogspot.com/2010/02/inspired-reader-stands-up-to-union-mobs.html

   Posted Tuesday Feb 23, 2010 15:57 #

5. anonymous
   Member

   great link. speaking of standing up to the unions, does anyone have any idea what the status of the district 96 teaches contract is? i assume they are in negotiations. I hope the school board have the audacity to stand up to them.

   Posted Tuesday Feb 23, 2010 17:16 #

6. raymond
   Member

   I hope the school board have the audacity to stand up to them.

   --like the school board did in the superindentent's contract negotiation. :(

   Posted Tuesday Feb 23, 2010 23:19 #

7. mrt
   Member

   More in the continuing conversation of how we are going to go forward in today's economy where spending exceeds income...

   In today's Tribune

   Quinn details $2 billion in spending cuts
   Schools would be hardest hit under governor’s plan
   

   SPRINGFIELD — Gov. Pat Quinn laid the groundwork Wednesday for another push at an income tax hike, previewing a grim spending plan that would severely cut money for education, social services and public safety yet still leave the state with a yawning budget gap.
   ...

   Yesterday

   Pat Quinn Starts Website, Wants Illinoisans Advice On Fixing The State's Nasty Budget Problems

   ...

   Earlier this week, the Civic Federation issued a report stating that the only way to help fix Illinois' $13 billion deficit is to raise taxes and cut the budget by an additional $2 billion--solutions that would go over like a lead balloon amidst a deep recession.

   Instead of making these tough choices and dealing with the public wrath (which will probably come anyway), Quinn's office launched a website asking Illinois residents to prioritize: should the state cut education funding and give more to health care? Should both be cut to make way for more road construction? Quinn's budget director David Vaught asks voters to decide on the site.

   The site also asks whether the state should raise taxes and by how much--and allows voters to "suggest a solution" to state budget problems.

   Quinn is set to address lawmakers about the budget on March 10.

   .
   .

   related post...

   an idea to bring the service cuts decisions closer to the people ...

   http://www.riversideinfo.org/forum/topic/signs-of-the-times-1/page/20#post-12086

   (should the quinn website post be under 'signs of the times' or 'illinois is broke' ? Both, obviously).

   Posted Thursday Feb 25, 2010 10:42 #

8. CuriousResident
   Member

   The ripple from the state beginning to show up on the local level: chicago public schools chief warns of billion dollar deficit.html

   Posted Thursday Feb 25, 2010 17:04 #

9. anonymous
   Member

   Is it news to anyone that Illinois is broke? And broken? If so, why? We've known about this for years. Why didn't we do anything about it? Oh yeah, the unions.

   Posted Thursday Feb 25, 2010 17:56 #

10. mrt
    Member

    In the 1950s , it was 'Who lost China?' In the 2000s, it might be 'Who lost Illinois?' Probably more than the unions. The principal at RB getting enough to get a pension for which he did not pay into, the d96 super's latest increase, and other non union public people all are examples of people who are not in unions but are getting higher than market compensation packages of late, voted on by ourselves, our representatives. Who lost Illinois? We did.

    Here is another item I just saw, reflecting the thread's subject, and offering another response to the problem - tuition for public schools.

    For kindergartners' full day, parents will pay
    Palos district offers full-day kindergarten - at a cost
    Comments

    February 26, 2010

    BY KATE MCCANN
    ...
    District officials say they can afford to pay for only half a day, especially as they weather the economic crisis.

    So they have offered a solution to a common problem in Illinois' cash-strapped school districts: requiring parents to pay tuition.

    http://www.suntimes.com/news/2070996,022610paykindergarten.article

    Posted Saturday Feb 27, 2010 14:42 #

RSS feed for this topic

Reply »

You must log in to post.