SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
Today’s numbers are lousy

Wednesday, Jan 22, 2014

* The Pew Charitable Trusts has a new interactive analysis of state fiscal health and, of course, Illinois isn’t doing well at all. From an e-mail…

Rich,

Just in time for the start of the Illinois legislative session next week, The Pew Charitable Trusts has launched a new interactive featuring 50-state data on key fiscal, economic, and demographic indicators. Fiscal 50: State Trends and Analysis also features insights and analysis from Pew experts in five core areas of fiscal health: revenue, spending, economy and people, long-term costs, and fiscal policy.

Fiscal 50 launched with six key indicators of state fiscal health, and will be updated with additional indicators, fresh analysis, and new data over time. Our first six indicators are: 1) tax revenue, 2) federal share of state revenue, 3) change in state spending over the past 20 years, 4) employment to population ratio, 5) debt and unfunded retirement costs, and 6) reserves and balances. These indicators were carefully selected to illustrate macro fiscal and economic trends that encourage policymakers to think outside of the annual budget bubble and focus on long-term fiscal issues.

The interactive offers state-by-state comparisons on each of these indicators, so you can quickly see which states are leading and which are lagging behind. The tool also allows you to compare state data to a national benchmark.

For example, in the “Reserves and balances” indicator, you can quickly see that, in fiscal year 2013, Illinois had sufficient reserve funds to operate for just 0.4 days, compared to a national average of 20 days. Of all of the states that report this figure, Illinois had the lowest amount of reserve funding.

Emphasis added for obvious reasons.

- Posted by Rich Miller        


24 Comments
  1. - OneMan - Wednesday, Jan 22, 14 @ 9:33 am:

    Wow,

    The difference in reserve between Illinois, Indiana and Wisconsin is kind of stark…

    At least we are ahead of Arkansas…


  2. - Meanderthal - Wednesday, Jan 22, 14 @ 9:38 am:

    Pew is no Koch Brothers funded operation either. They are mainstream to left leaning and can’t be said to be doing a hatchet job on Illinois.
    Its sad that none of this seems to matter to voters, media or the chattering class.


  3. - Rich Miller - Wednesday, Jan 22, 14 @ 9:55 am:

    ===They are mainstream to left leaning===

    http://capitalandmain.com/promise-breakers-how-pew-trusts-is-helping-to-gut-public-employee-pensions/


  4. - RNUG - Wednesday, Jan 22, 14 @ 9:56 am:

    They do a good job of visually presenting the information.

    Just comparing IL to itself in previous years:

    Tax revenue is up sharply, presumably due to the temp income tax that will soon sunset.

    Spending is up modestly by comparison.

    Cash on hand is down.

    The obvious conclusion is the temp tax hike wasn’t big enough to cover the backlog of bills and the structural deficit in the annual budget.


  5. - Endangered Moderate Species - Wednesday, Jan 22, 14 @ 9:59 am:

    ===They are mainstream to left leaning ===

    Meanderthal, it is not my intention to disagree with the numbers but I disagree with your statement. They are self described as politically conservative. The Pew family are the heirs of Sun Oil. Their beneficiaries include the John Birch Society and the American Liberty League.


  6. - walker - Wednesday, Jan 22, 14 @ 10:00 am:

    This is a good site to get comparative state statistics and worth reviewing.

    Interesting that of the dozen key indictors of state fiscal health, Illinois is in the middle of the pack on most of them, while we are indeed among the worst on pension liability and cash on hand.


  7. - Grandson of Man - Wednesday, Jan 22, 14 @ 10:09 am:

    If there is any good news, it’s that pension reform will help pay down the pension liability. The bad news, of course, is our budget deficit. We know that if we eliminate the income tax increase, we will have larger deficits. The lack of revenue will force cuts to the most vulnerable among us, and that’s something that I do not support as a stand-alone solution, especially in this economy of gains going almost exclusively to the wealthiest.

    http://news.yahoo.com/illinois-budget-gap-grow-despite-pension-reform-study-191547384–sector.html;_ylt=A0oG7ifk5t9SzCUAu79XNyoA;_ylu=X3oDMTB0Z3A0YmFyBHNlYwNzYwRjb2xvA2FjMgR2dGlkA1ZJUDI4MF8x

    I have said this many times before, but I think we should seriously consider legalizing recreational marijuana. I’m sorry to see that some politicians are not even happy with legalized medical marijuana. We need the economic boost and tax revenue. Support for marijuana legalization has been increasing.


  8. - dupage dan - Wednesday, Jan 22, 14 @ 10:09 am:

    === The obvious conclusion is the temp tax hike wasn’t big enough to cover the backlog of bills and the structural deficit in the annual budget ===

    Folks who posted here knew that the temp tax hike wasn’t gonna be enough. Time has shown them to be right. Pleas to address that have not borne fruit. If that tax doesn’t become permanent, the bottom drops out and things could get real bad. Is there political in the GOP, if they retake the mansion, to make the hike permanent? Can I say Ogilvie?


  9. - Steve - Wednesday, Jan 22, 14 @ 10:18 am:

    To those who doubts the numbers Pew puts out: everything is fine in Illinois. There’s no problems. The status quo is fine.


  10. - foster brooks - Wednesday, Jan 22, 14 @ 10:19 am:

    Confidence is contagious so is lack of confidence


  11. - MrJM - Wednesday, Jan 22, 14 @ 10:31 am:

    To those who doubts the numbers Pew puts out: everything is fine in Illinois.

    Isn’t it a little early for a straw-man argument?

    – MrJM


  12. - mokenavince - Wednesday, Jan 22, 14 @ 10:33 am:

    Don’t shoot the messenger. Our State used to be a place you could always get a job. After 30 years of Madigan rule people and jobs are voting with their feet.
    Until he leaves, the State will continue to spiral
    down. Our gerrymandered districts offer little hope for change.
    Lets hope we elect a smarter governor than Quinn.


  13. - plutocrat03 - Wednesday, Jan 22, 14 @ 10:42 am:

    Sobering report, but rather than circling the respective political wagons there is a need to look forward towards a more stable future.

    Is it possible for the legislators to consider the financial impact of all new spending initiatives as the devise the new spending plans? The problem developed over many years, so the solution will will require many years to resolve.

    How about taking .50 or .75 cents of all new dollars and dedicate the money to fiscal remediation, thus leaving some money foe new programs. Let’s run the numbers and see where that leads us.

    It is as unreasonable to expect none of the resources to go toward new spending as it is to expect all the resources to be spent on new stuff. Let’s look for a middle path.


  14. - drew - Wednesday, Jan 22, 14 @ 10:45 am:

    Given our backlog of unpaid bills, I’m surprised we don’t have a negative number of days of operation on reserves.


  15. - DuPage - Wednesday, Jan 22, 14 @ 10:56 am:

    @10:09=If there is any good news, it’s that pension reform will help pay down the pension liability= ??!!?? The state may well lose in court and have to pay any pension cuts back, with interest.


  16. - Mark Glennon - Wednesday, Jan 22, 14 @ 11:01 am:

    Pew is notorious for understating problems because they consistently use a) outdated numbers and b) state-reported numbers, which are full of accounting gimmicks. They did it again. Look at their number for unfunded pension liabilities: &75.7B, the FY 2010 number. Sheesh.


  17. - AnonymousOne - Wednesday, Jan 22, 14 @ 11:11 am:

    We are a low tax state. Doubt it? Look at our surrounding neighbors. In fact, look at all 50 and see where we are. Why we have to keep wringing our hands over a lack of revenue and looking at the same programs to slash even more from is beyond me. Anybody who wants stuff but doesn’t want to pay for it needs to leave and go pay 8% elsewhere. What a collection of cheapskates(big business) and con artists(politicians) we have
    residing here. The rest are whiners.


  18. - Grandson of Man - Wednesday, Jan 22, 14 @ 11:55 am:

    “The state may lose in court and have to pay any pension cuts back”

    Yes, I considered that when I wrote the statement. What are we to do now, though? We go with what we have. If and when we get to that point, I believe that we will devise pension reform that will be constitutional.

    I would have preferred the A-B pension plan with SB 2404 as a backup bill, but alas, it didn’t come to pass. I also prefer debt reamortization, but that didn’t happen either. I’m just trying to stay out of a negative mindset on our state’s future.


  19. - PublicServant - Wednesday, Jan 22, 14 @ 12:35 pm:

    The problem with raw amounts of pension debt which is paid out over future years is that it’s rarely put into perspective. When compared against future state income, the numbers are not as horrible as many would like us to believe. Without the passage of the unconstitutional SB1, the unfunded pension debt would have been able to have been erased with just 37 cents of every $100 of future state earnings. That isn’t great, but it’s not the crisis that just throwing out raw numbers of pension debt seem to imply. Taking a look at Dean Baker’s 2011 paper on state pension debt, written during the bottom of the great recession is a balanced look at state pensions, unlike to Pew FUD:

    http://www.cepr.net/documents/publications/pensions-2011-02.pdf


  20. - RNUG - Wednesday, Jan 22, 14 @ 12:41 pm:

    Grandson of Man - Wednesday, Jan 22, 14 @ 11:55 am:

    You are deluding yourself that the A/B plan was constitutional. You are also deluding yourself that there is any legal pension reform that can achieve significant savings. Tier 2 WAS the legal pension reform with savings.

    About all that is left legally is a Tier 3 that totally guts any pension or requires defined contribution for new hires, and then you will end up having to make Social Security contributions for all the members that are not currently in SS, which will be a net cost to the State.


  21. - Ghost - Wednesday, Jan 22, 14 @ 1:07 pm:

    this funding issue is no problem, if the State can use itspolice powers to remove debt obligations, we dont have to pay anyone who is owed money. Therefore we have no debt and are the most fiscally sound State in the country. lets order up some new cars and build some roads and bridges. Then when the bill comes do we will just say we cant pay it, and due to our fiscal crisis we will excercise our police powers to eliminate the debt without payment.


  22. - Grandson of Man - Wednesday, Jan 22, 14 @ 1:18 pm:

    “You are deluding yourself that the A/B plan was constitutional.”

    Perhaps. I was just trying to put a positive spin on the bad news we’ve been getting. My pension reform plan of choice would have been debt reamortization, a stronger funding requirement and a progressive income tax, which would not violate the constitution. I didn’t get this stuff, but I will continue to support it.

    “You are also deluding yourself that there is any legal pension reform that can achieve significant savings.”

    We shall see.

    “About all that is left legally is a Tier 3 that totally guts any pension or requires defined contribution for new hires, and then you will end up having to make Social Security contributions for all the members that are not currently in SS, which will be a net cost to the State.”

    A very scary prospect and something I hope doesn’t happen. I don’t see it happening politically, but I could be wrong. I’ve been a fool for lesser things.


  23. - fed up - Wednesday, Jan 22, 14 @ 1:48 pm:

    Maybe Quinn will accept the Chicago casino with some video poker at Ohare and Midway, fracking money will begin to flow soon, New York was able to write a legal internet sales tax bill.Maybe Madigan & Cullerton should read it. Madigan will still refuse any cuts like combining State treasurer and Comptroller office just because.( yes, it doesnt save much but should be done.) Finally fix the workers comp BS in this state so buisness will expand.


  24. - lakecounty - Wednesday, Jan 22, 14 @ 9:05 pm:

    - Grandson of Man - Wednesday, Jan 22, 14 @ 10:09 am:

    If there is any good news, it’s that pension reform will help pay down the pension liability.

    Huh, how is not paying what you promised helping pay down the pension liability?


TrackBack URI

Sorry, comments for this post are now closed.


* Afternoon updates
* Hospitals back removal of income tax sunsets
* The other strategy
* *** UPDATED 1x *** Quinn onboard; Rauner latches onto term limits proposal
* Because Illinois is a real battleground state
* Quinn dodges Rahm question on "Morning Joe"
* Morning Shorts
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * Hulu Plus app now casts to PS3, PS4, Xbox One
        * Sony brings Lifelog, SmartBand fitness apps to non-Sony Androids
        * What will become of Google+?
        * Calling all filmmakers: Do you have what it takes to create Nokia’s next video?
        * Hidden WP8.1 USB settings uncovered with Bing’s help
        * Our favourite 5 new Windows Phone apps of the week
        * Apple, Samsung bicker over jury verdict form

        * Is net neutrality dying? Has the FCC killed it? What comes next? Here’s what you need to know
        * iPod Ad Impressions Are Actually Higher Than BlackBerry And Windows Phone Devices
        * Facebook Acquires Company Behind “Moves” Fitness And Activity Tracker App
        * The Feeling Skin Is An iPhone Battery Case And More
        * Google+ Isn't Dead, It's Just Overexposed
        * Mobile Payments Are An Area Of Interest To Apple, According To Tim Cook
        * Mac Pro Shipping Estimates Are Improving

        * Detroit Tigers 7, Chicago White Sox 4: Scherzer Stops Sox
        * Quintana solid, but drops finale in Detroit
        * Johnson starts homestand opener vs. Rays
        * Quintana solid, but drops finale in Detroit
        * Walks working against the White Sox' plans for the bullpen
        * Viciedo maturing at the plate
        * Beckham returns, thrust into starting lineup


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Sosnowski, other state leaders respond to Gov. .....
        * Minimum- and low-wage workers react to Gov. Pat.....
        * Governor Pat Quinn press conference: Western Il.....
        * Tap on a topic to save it here - BreakingNews.com..


        * Man charged with giving girlfriend HIV
        * Man charged with giving girlfriend HIV
        * Ill. jobs screened for political ties after hiring
        * Ex-Marine sentenced to die in sailor's slaying
        * Quinn: Obama library should get private funds too
        * Twice-fired police chief charged with battery
        * Illinois governor praises work of slain doctor
        * Illinois researchers to study Washington mudslide
        * Severe storms loom across central US this weekend
        * Severe storms loom across central US this weekend

        * Bankruptcy court trial sought over $3.8 million paid to Parsons
        * Amazon takes hit in states with online tax, study says
        * State audit: Police training money misspent
        * Audit: Treasurer's office has 30 guns not given to police
        * Madigan: 'Misunderstanding' on Obama library vote
        * Madigan re-elected to lead state Democratic party
        * Hastert, other state Republicans supporting immigration reform
        * Lawsuit seeks investigation of hiring under Quinn
        * Patronage allegations give Rauner fodder in race against Quinn
        * Bill would get state police cruisers on road

        * Chicago City Council committee OKs plastic bag ban
        * Feds to review Northwestern bid to unionize
        * United stock takes biggest tumble since October 2011
        * Next up for CPS: Barack Obama College Prep
        * Bronze statue of Roger Ebert unveiled at Ebertfest


        * Reject firefighter staffing bill
        * Chicago man charged with giving girlfriend HIV; wife died of AIDS
        * Trio charged with robbing stores, gas stations in city, suburbs
        * His wife died of AIDS, now Chicago man is charged with giving girlfriend HIV
        * Pedicab operators say a crackdown could put them out of business
        * Robo-calls on pension reform bill raise Rauner-Rahm rift
        * Truck fatally strikes semi driver taking picture of accident
        * Semi fatally strikes pedestrian in Noble Square
        * Police: Pedestrian fatally struck by semi in Noble Square
        * Editorial: How to improve graduation rates


        * Dutch man charged in Chicago with selling drugs for bitcoins
        * 1 dead, 4 injured in shootings
        * Ravinia sales brisk, but wait long, as ticket-buying opens
        * New Chicago high school to be named for Obama
        * Lawyers for men charged in NIU hazing death challenge law
        * Coach fired in Maine West hazing scandal fails to win back job
        * Illinoisans have lowest home-state opinions in the U.S., poll says
        * Mom on death penalty for Torrez: ""I only wish I could do it myself"
        * Illinois graduated income tax vote next week
        * Illinois graduated income tax vote next week


        * Secret recording shows Uber's efforts to poach Chicago cabbies
        * Springfield Ordinances for Lincoln's Funeral Unearthed
        * Illinois Finally Gets 'No Child Left Behind' Waiver
        * Chicago aldermen pass plastic bag ban
        * City Council panel passes plastic bag ban
        * Marian Anderson Tribute - 'The Concert That Shook The Establishment'
        * Organic foods sold by Walmart create fear among some organic farmers and farm advocates
        * Senator Kirk joins Revolution in backing Small BREW Act
        * Listen To State Week - April 18, 2014
        * Earth Friendly Event In Springfield This Weekend


        * State jobs screened for political rules after hires
        * Quinn: Obama library should get private funds too
        * Rauner skips GOP event over pastor's comments
        * Quinn backs term limits for constitutional officers
        * Rauner wants Quinn to release hiring documents
        * Bernard Schoenburg: Barr borrowed late in sheriff campaign to keep ads flowing
        * Cristal Thomas: Protecting Illinois’ pregnant workers shouldn’t be a heavy lift
        * Remap group says it is not political
        * Quinn clout hiring faces scrutiny
        * Judge OKs use of lawmaker's post-arrest statement


        * UPDATED: Passenger train hits farm truck near Savoy
        * ISU rehires fired grounds worker
        * Lawnmowers taken from Lowe's
        * Train hits farm implement near Savoy
        * Updated: New Central High School site proposed
        * I-74 bridge meeting draws large crowd
        * Updated: Ebert knew about plans for statue
        * Robber sentenced to 10 years in prison
        * Three charged with Social Security fraud
        * Sports Talk 4-24-14


        * The 10th District money race
        * Aurora Democrat calls out IHSA
        * Lawyers: Ill. hazing law vague, unconstitutional
        * Ill. House OKs lower-cost hunting bill for seniors
        * Quinn’s running mate takes new consulting job

        * Rep. Lipinski Reviews Operations at Hanson...
        * Lipinski announces 2014 Congressional Art ...
        * Lipinski seeks artistic submissions - The ...
        * Lemont VFW honors Vietnam veterans - Subur...
        * Lipinski Votes to Protect the Paychecks of...
        * Meet the 8 House Dems who don't co-sponsor...
        * Jeff Vorva's Editor's Notebook: In this ca...
        * Rep. Lipinski to Honor Vietnam Veterans at...
        * Rep. Lipinski Helps Secure Funds for Safet...
        * Rep. Lipinski Reviews Operations at Hanson...

        * Loading Koch Industries Website Too Many T......
        * Maryland and DC among worst for food aller......
        * Cleveland State University to reestablish ......
        * Convicted political boss Al Sanchez runnin......
        * Candidates make last filings for local, st......

        * Illinois Lt. Gov. Simon opposes pension le......
        * Dillard Odd Man Out on Pension Deal Reaction...
        * Sen. Mark Kirk sides with Rauner on pensio......
        * Governor's race infighting threatens pensi......
        * SCHOONERS - Home of Everyone's Favorite Be......

        * Major Oil & Gas Firm To List Drilling Chemicals
        * Durbin Says FDA E-Cigarette Regulations Don't Go Far Enough
        * Herbalife Punished 600 Distributors For Medical Claims: ABC News
        * Harmon To Push For Graduated Tax Vote Next Week
        * Madigan blames Tea Party for $100M Obama Library re-vote
        * Oberweis remains committed to border security, immigration law enforcement
        * One In Ten U.S. Bridges In Urgent Need Of Repair: Report
        * Chicago Plastic Bag Ban Clears Committee, Heads To Full City Council
        * Quinn Announces Support For Term Limits For Statewide Lawmakers
        * Chicago High School To Be Named After Obama


        * Cases of Chlamydia, Gonorrhea and HIV on the Rise Nationally - Residents Are Encouraged to Get Tested for STDs
        * State Insurance Regulators Urge Property Owners to Review/Add Coverage to Protect from Floods & Water Damage - Most homeowners’ policies do not cover flood damage
        * Governor Quinn Statement on New Proposal to Enact Term Limits for Constitutional Officers
        * Statement from Governor Quinn on the Passing of Dr. Jerry Umanos
        * Governor Quinn Proclaims “Wrigley Field Day” - Home of the Chicago Cubs Turns 100 Years Old Today




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller