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?


Sorry, comments for this post are now closed.


* Was Rauner consultant behind anti-Schock ads?
* False equivalence taken too far
* The weekend in Facebook
* Subscribers Only - Events list (use last week's password)
* Question of the day
* Republicans look to the future
* *** UPDATED x1 - Beer tickets? *** OEIG: Rednour solicited a big gift, Bliefnick improperly accepted gifts
* Rauner investing heavily in campaign infrastructure
* Yet another stumble
* 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

          
        * Apple Stores to allow purchases with US Carrier Early Upgrade Programs?
        * Driver Shortage and Surge Pricing Hamper Lyft's NYC Launch
        * Facebook's Bolt Faces Challenges Over Its Name Before It's Even Launched
        * Bitcoin Wallet App 'Blockchain' Returns to the App Store
        * Apple Stores to sell iPhones on carrier upgrade programs from August [Rumor]
        * 5 Things to Love and Hate in the Android L Dev Preview
        * Fitbit Steps Into Windows Phone

        * Dear Instagram, a Bolt App Already Exists
        * Leave Your Future Self Notes to Reinforce Gratitude or Lessons Learned
        * Big bitcoin players are back on iOS now that Blockchain’s Wallet app is live again
        * OkCupid Defends Human Experiments: 'That's How Websites Work'
        * Ask an Expert: All About Staying Fit for Busy People
        * Report: Apple to Buy Podcast-Streaming App ‘Swell’ for $30 Million
        * Apple’s iWatch: 7 Things It Must Do to Win the Market

        * Frank Thomas lets it out, lets everybody in during Hall of Fame speech
        * This Week in White Sox Minor League Baseball
        * White Sox Minor League Update: July 27-Aug. 2
        * New draftee Rodon tops White Sox updated Top 20
        * White Sox focused on long-term at Trade Deadline
        * White Sox focused on long term at Trade Deadline
        * Carroll strong but bullpen falters in finale


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

        Archives
        July 2014
        June 2014
        May 2014
        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


        * State fair officials nailed for free beer givea.....
        * Attorney: effort to block PCB's brought on by p.....
        * Election 2014: Dissecting Pat Quinn's, Bruce Ra.....
        * Quinn says he’ll live off equivalent of minimum.....
        * Quinn To Participate In Minimum Wage Challenge..
        * Frank Thomas, real role model, inducted in Base.....
        * New law expands state Holocaust Commission - Th.....


        * Illinois fair managers fined for free beer tickets
        * APNewsBreak: Illinois: Doctor faked pot paperwork
        * Cool summer keeping West Nile in check in Illinois
        * Illinois communities scramble to find road salt
        * Illinois coal exports dip in 2013 after sharp rise
        * More Illinois state workers making over $100,000
        * Carpentersville man pleads guilty to bomb threats
        * Suspect killed after scuffle with Chicago officer
        * Beijing, Chicago architects to design Lucas Museum
        * Developmental center closure could take time

        * Concealed carry rules tough on out-of-state residents
        * Regulators say Illinois doctor faked pot paperwork
        * Quinn aide: Court rulings don’t jeopardize federal health-care subsidies
        * Illinois communities scramble to find road salt
        * Cutbacks in annual pension increases unconstitutional, Schimpf says
        * Illinois State Fair manager fined by ethics commission for accepting free beer tickets
        * Quinn: Landfill's PCB approval may be withdrawn
        * New law expands state Holocaust Commission
        * To fight crime, Chicago tries wiping away arrests
        * Quinn, Rauner budget plans debatable

        * Inspector General: Metra workers falsified time sheets
        * Southwest fined $12 million for flying airliners without making proper repairs
        * FAA proposes $12 million fine against Southwest over repairs
        * Anatomy of a deal: How Exelon won a bidding war for Pepco
        * McDonald's pulls meat from China restaurants amid supplier probe


        * Man dead, police officer wounded after shooting in Bucktown
        * Photographer outraged at social media censoring of photos of moms, kids
        * Man accused of stealing kid’s bike charged with hitting dad
        * 2 teens killed, 2 hurt in crash
        * Horses on parade: Statues to honor fallen police officers, raise money
        * Man charged in Orange Line robbery
        * Los Angeles man arrested in 1992 murder of Skokie teen
        * ‘I have faith and hope,’ Lisa Stebic’s sister says
        * Prosecutor: Shooter knew rival wasn’t in crowd but fired anyway
        * Women at work: Balancing life’s load as electricians


        * FAA suggests $12 million fine for Southwest Airlines over repairs
        * State watchdog faults Metra for falsifying work logs
        * State watchdog faults Metra for falsifying work logs
        * Authorities investigate death of Schaumburg boy
        * Bail denied for 2 men charged in shooting of boy, 3
        * Israeli-Palestinian conflict spurs dueling Loop rallies
        * Hammond police seek 2 in shooting of Addison family
        * City could pay $1.2 million in police shooting basketball player case
        * City could pay $1.2 million in police shooting basketball player case
        * George Lucas announces architects for lakefront museum


        * Exoneree Diaries: "You've got anger issues, Dad."
        * Clout On The Business Side of Medical Marijuana
        * So, when is it Jane Byrne's turn?
        * State Police Cancels New Trooper Training, Citing Budget
        * Feds' Immigrant Numbers For Illinois May Not Tell Whole Story
        * Listen to State Week - July 25, 2014
        * Inspector General Discloses Political Hiring Investigation
        * Man Robbed By Fake Police On I-55
        * Business, Labor Leaders Urge Quinn Administration To Finish Fracking Rules
        * Pullman to get an indoor sports facility


        * Regulators say Illinois doctor faked pot paperwork
        * Illinois communities scramble to find road salt
        * Illinois State Fair manager fined by ethics commission for accepting free beer tickets
        * New law expands state Holocaust Commission
        * Quinn, Rauner budget plans debatable
        * Angie Muhs: Who will be the next First Citizen?
        * Tony Leone: Put the ALPLM under federal control
        * Back pay, OT pushes state government’s ‘$100,000 club’ to 7,800
        * Bernard Schoenburg: Schneider stresses fiscal issues in seeking GOP wins
        * Our Opinion: No harm in Houston changing his mind


        * Interstate 55/70 down to one lane
        * Hop on the bus, Gus: Agency will design mass transit plan for you
        * Updated: Rednour Jr. says beer tickets used for 'promotional purposes'
        * Road closing 7/28/14
        * B1G Media Day - Kirk Ferentz
        * Street closures listing
        * B1G Media Day - Kevin Wilson
        * LIVE! Big Ten Media Days
        * Illinois State University sets fundraising record
        * Ex-judge's daughter cited with misdemeanor traffic charge after hitting local basketball star


        * Aurora meat supplier: China unit fell short of standards
        * Obama gets emotional over Malia going to college
        * S. Carolina mom's arrest sparks child care debate
        * Wauconda equine therapy program helps special needs kids
        * The Situation agrees to anger management classes

        * Officials push for funds to finish West Ch...
        * Illinois Congresswoman Takes on Minimum-Wa...
        * DuPage leaders on W. Chicago thorium clean...
        * Labor Dept., Dems renewing push to hike mi...
        * Rep. Roskam: IRS Budget Cuts Best Way to C...
        * Rep. Jan Schakowsky (D-Imwit) Dares To #Li...
        * ASK PETER: Building a 21st Century Workfor...
        * Rep. Jan Schakowsky's minimum-wage menu is...
        * Jan Schakowsky tries minimum wage - Politico
        * What Does Representative Schakowsky Usuall...

        * YouGov finds rosy picture for GOP in Senat......
        * Dem leaders urge minimum wage hike, critic......
        * ATF Efforts Raised in Chicago...
        * ATF Efforts Raised in Chicago...
        * Rand Paul Talks to Black and Democrats Fli......

        * Sen. Rose: Quinn too little, too late to C......
        * Councils bid to electrify Doncaster-Cleeth......
        * Kirk again calls for removal of VA hospita......
        * On ADA anniversary, retiring Harkin promis......
        * Content about Alaska...

        * Chicago Religious Leaders Hold Prayer Vigil To Highlight U.S. Incarceration Epidemic
        * Prison vigil
        * New Progressive Political Group To Officially Launch In Chicago
        * Quinn To Participate In Minimum Wage Challenge
        * Chicago area fast food workers threaten to escalate wage demands
        * Colion Noir on Chicago gun violence and Chicago gun laws [video]
        * Roskam Speaks in Solidarity with Persecuted Christians in the Middle East
        * Hultgren Supports Elimination of Marriage Penalty
        * Illinois communities scramble to find road salt for coming winter
        * Despite violating gift ban, Illinois state fair manager keeps government job


        * Hoy Op-Ed on Immigration
        * Governor Quinn Reminds Drivers to Take Caution in Work Zones, Directs State Agencies to Redouble Efforts to Protect Public and Workers - Encourages Public to Increase Vigilance Following I-55 Tragedy
        * Governor Quinn's Statement on the Unpatriotic Corporate Tax Inversion Loophole
        * Governor Quinn Proclaims “Frank Thomas Day” in Illinois - Honors “The Big Hurt” and the Class of 2014 Hall of Famers
        * Governor Quinn Signs Legislation to Expand the Holocaust and Genocide Commission - Commission Works to Increase Public Awareness Through Educational Programs, Events and Outreach




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