Wirepoints
Recent News About Wirepoints
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From Prairie State Wire
Pritzker’s claims of paying down pension debt “simply dishonest,” fiscal watchdog says
The recently approved state budget hardly makes Illinois the beacon of fiscal prudence that Democratic Gov. J.B. Pritzker and legislative leaders claim it is, budgetary analysts at Wirepoints say.
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From Prairie State Wire
Illinios education officials want half the state's budget, Wirepoints warns
Illinois education officials are out to get half of the state's budget—and they just might—to the detriment of the state's taxpayers, according to an online Wirepoints newsletter issued earlier today.
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From Prairie State Wire
State facing huge debt for public-sector retiree health benefits, says Wirepoints
Illinois's "other debt disaster" is $73 billion in unfunded state retiree health insurance benefits and more than twice that amount owed over the next four decades, according to a special report issued this week by an online news outlet.
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From Prairie State Wire
Population falling, but Illinois government leaders agree to spend, borrow more
Illinois state government leaders say they will spend a record $38.5 billion and borrow an estimated $11.5 billion over the next year, according to a fiscal year 2019 budget plan approved by Gov. Bruce Rauner.
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North Chicago joins Harvey in being crippled by pension crisis
North Chicago has joined Harvey on the growing list of Illinois cities being crippled by ballooning public safety pension system crisis, Wirepoints reports.
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Report shows 'true' accounting of pension liabilities more than double what governments say; Expert: debt is 'utterly absurd'
Financial expert Mark Glennon of Wilmette says in his analysis of a new study on state and local pensions that the options available to reduce the substantial obligations facing Illinois funds include amending the state constitution or going through federal bankruptcy.
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If budget hopes are scrapped, Illinois could become first 'junk' state
The chances that Illinois will reach a budget before May 31 and avoid seeing its bond rating lowered to the worst of any state in history are 50-50 at best, according to Mark Glennon, founder of the business and government website WirePoints told the Sangamon Sun recently.
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'Privilege tax' bills described as Illinois exit signs
Rather than bring in more money for the state, a pair of bills would probably drive more businesses out of Illinois, the founder of a financial website says.