News

Study: Pension Reform Flawed

Study: Pension Reform Flawed

Photo: Newsradio WTAX

 

The pension overhaul which passed the legislature last month doesn’t do everything. A new study from the U of I’s Institute of Government and Public Affairs says the state still stands to have a multi (b) billion dollar deficit even after it’s caught up on the pension obligations.

The study’s author, economist Dick Dye, says, “The structural deficit – the mismatch between sustainable revenues and spending patterns – is not, in the next ten years at least, fixed. It shaves about $1 billion off the deficit, but a deficit that’s growing from about $4 billion a year to fourteen in ten years.”

Of course, stabilizing the pension problem was the goal, though Dye says the public, and even some lawmakers, may not fully understand that’s all the new law does.

Recent Headlines

in Election 2014, Local

Grimm Polling Between 6 and 7 Percent in Governor’s Race Poll

chad_grimm

The Libertarian candidate for governor is getting 6 or 7 percent in public opinion polls, which is greater than the lead that Gov. Pat Quinn enjoys in recent polls.

in Local

Chicago Civil War Site Recognized

local_news_generic

The former site of a Civil War training and prisoner of war camp on the South Side of Chicago has received formal recognition.

in Local

Concealed/Carry Not a Problem for Most Cops

siren

Cops always expect the unexpected

in Election 2014, Local

Central Illinois Teens Working as Election Judges

votesigns

Dozens of high school students in central Illinois will serve as election judges at the polls this Election Day.

in Election 2014, Local

Oberweis Ratcheting Up Campaign Efforts in Black Neighborhoods

oberweis

Republican U.S. Senate candidate Jim Oberweis says he’s courting black voters in a way that other Republicans haven’t in decades.