LIVE session coverage...
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 number: 9 percent

Thursday, Aug 28, 2014

* William Lazonick in the Harvard Business Review

Five years after the official end of the Great Recession, corporate profits are high, and the stock market is booming. Yet most Americans are not sharing in the recovery. While the top 0.1% of income recipients—which include most of the highest-ranking corporate executives—reap almost all the income gains, good jobs keep disappearing, and new employment opportunities tend to be insecure and underpaid. Corporate profitability is not translating into widespread economic prosperity.

The allocation of corporate profits to stock buybacks deserves much of the blame. Consider the 449 companies in the S&P 500 index that were publicly listed from 2003 through 2012. During that period those companies used 54% of their earnings—a total of $2.4 trillion—to buy back their own stock, almost all through purchases on the open market. Dividends absorbed an additional 37% of their earnings. That left very little for investments in productive capabilities or higher incomes for employees.

“Very little” would be 9 percent.

- Posted by Rich Miller        


44 Comments
  1. - Anon - Thursday, Aug 28, 14 @ 8:49 am:

    The economics described in the article is what helped make Rauner such a rich man. That’s why he and other GOP bigwigs like the status quo of historically low taxes and high profits, with the 0.1% (or is it the 0.01%) reap most of the benefits.


  2. - Bill White - Thursday, Aug 28, 14 @ 9:02 am:

    It’s like the end of a game of Monopoly - one player has all the money, all the good properties, all the hotels and the other 4 or 5 players are bankrupt. Game over.

    All metaphors and analogies are incomplete and inexact, however, I believe this one offers genuine insight into why our economy is struggling.

    Except for the 0.1% - no one has any money to spend. And the 0.1% aren’t spending.


  3. - Apocalypse Now - Thursday, Aug 28, 14 @ 9:04 am:

    I am very pleased with the returns in the stock market over the last five years. Anyone with a retirement plan should be thankful and happy. Those state retirement plan unfunded liabilities have gotten a lot better over the last five years.
    Overall, millions of people have been helped by this five year boom in the stock market. Only benefiting the 1%. Baloney!


  4. - Left Leaner - Thursday, Aug 28, 14 @ 9:05 am:

    Figuring that that ol’ trickle down economic “theory” will kick in in 3…2…1…


  5. - Apocalypse Now - Thursday, Aug 28, 14 @ 9:06 am:

    Ask those millions of people getting dividends and increases in dividends, if they are happy. I would expect, so.


  6. - Grandson of Man - Thursday, Aug 28, 14 @ 9:06 am:

    That’s why all this crying by those supporting corporate inversions is just wrong. Though the U.S. corporate tax rate is among the highest in the world, it’s still historically low. It used to be higher, as far as the marginal rate. The same goes for other federal income taxes.


  7. - Cook County Commoner - Thursday, Aug 28, 14 @ 9:07 am:

    “Yet most Americans are not sharing in the recovery.”

    Could it be that “most Americans” may be doing something wrong? Nah. Let’s blame the corporations for the whole mess. That’s so much easier and satisfying than honestly looking at the bad decisions one has made in his or her lifetime.


  8. - Anon - Thursday, Aug 28, 14 @ 9:14 am:

    Between this trend, student loan debt and a lack of retirement savings for seniors, our nation is headed for a very rough patch over the next 10-20 years.


  9. - VanillaMan - Thursday, Aug 28, 14 @ 9:20 am:

    Only 3% of Americans polled agree with the statement that our economy has returned to where it was in 2007.

    I wish we had a president to address these economic problems!


  10. - ChrisB - Thursday, Aug 28, 14 @ 9:23 am:

    Tl;dr version: managers used basic corporate finance to boost their stock prices, because of their short term incentives.

    Stock buybacks are a good thing if you’re an investor. Much better than dividends. They are giving money back to investors at a lower tax rate. It’s also signalling to the market that you expect good cash flows.

    Plus, if I’m an investor, I should hope that the managers are calculating the NPV of these projects to see if they are truly good ideas, and not just blindly throwing money away.

    Why does the HBR think that these is a radical new concepts? Even without the full version, it’s easy to see this guy doesn’t know what he’s talking about. Read the comments for better insight.


  11. - Rich Miller - Thursday, Aug 28, 14 @ 9:24 am:

    ===Ask those millions of people getting dividends and increases in dividends, if they are happy.===

    “As of 2010, the richest 5% of U.S. households owned about two-thirds of all outstanding stock”

    http://www.salon.com/2013/09/19/stock_ownership_who_benefits_partner/


  12. - Rich Miller - Thursday, Aug 28, 14 @ 9:26 am:

    ===Why does the HBR think that these is a radical new concepts?===

    Because it was a radical concept before strict buyback limits were tossed out.


  13. - Phenomynous - Thursday, Aug 28, 14 @ 9:29 am:

    “As of 2010, the richest 5% of U.S. households owned about two-thirds of all outstanding stock”

    The fed stimulus and bailout really worked then didn’t it? The current presidents “Mission Accomplished” moment.


  14. - Madison - Thursday, Aug 28, 14 @ 9:38 am:

    Stock buybacks dress up balance sheets.
    When 70% of GDP is service related, to grow the new economy we have to spur growth through consumption and spending retained earnings and distributing dividends. the consumer is tapped, little borrowingbis happenning.

    Bond markets fortell economic prospects, and yields are falling. to the economy to share we need to increase the velocity of money, which includes but not limited to:
    Taxing retained earnings rather than profits, which forces corporations to raise spending, (hiring) returning money tomshareholders, (dividends) and increasie immigration.

    Yes, its not popular, but they could stem the flow across the border if they chose to, but they choose otherwise, and will tell you they have no solution. Immigrants need cars and homes and food and they will increase consumption without political costs.


  15. - MrJM - Thursday, Aug 28, 14 @ 9:43 am:

    “Could it be that ‘most Americans’ may be doing something wrong? Nah. Let’s blame the corporations for the whole mess. That’s so much easier and satisfying than honestly looking at the bad decisions one has made in his or her lifetime.”

    Are you seriously suggesting that 99.9% of Americans are “doing something wrong”?

    – MrJM


  16. - Grandson of Man - Thursday, Aug 28, 14 @ 9:55 am:

    “I wish we had a president to address these economic problems!”

    We do, but he’s being obstructed and denied by Republicans at perhaps an unprecedented or historically significant level.

    Obama’s now resorting to executive orders because Congress is gummed up by obstructionists and House Republicans.

    I wish Republicans in the national legislature would not be hell-bent on blocking this president and would get to work on passing popular legislation, such as a minimum wage increase and a jobs act that would go toward rebuilding infrastructure and education.

    Congressional approval rating is abysmally low, much lower than Obama’s approval rating, and it fits the type of national legislature we currently have.


  17. - Steve - Thursday, Aug 28, 14 @ 9:55 am:

    Rich, thanks for this excellent post. These are facts. The numbers suggest this stock market rally has been pushed by hot air.


  18. - Sir Reel - Thursday, Aug 28, 14 @ 9:57 am:

    Buybacks, stashing profits in the bank or overseas, inversions, the list goes on and on .

    America’s economy used to be driven by manufacturing which was driven by engineers and entrepreneurs. Today, financial schemes, manipulation and influence of the tax code, and blaming someone else is our economy.

    No wonder.


  19. - Nearly Normal - Thursday, Aug 28, 14 @ 10:04 am:

    “Greed is good.”

    Gordon Gekko


  20. - Anon - Thursday, Aug 28, 14 @ 10:06 am:

    == Could it be that most Americans are oding somehting wrong? ==

    Conservatives like the blame the poor for being poor. It’s all their bad decisions, therefore no reforms in the economy are needed.

    You can’t blame Americans for the structural changes in the economy that mean a shrinking proportion of jobs with good benefits and salaries. There is a significant portion of the working poor who have some college.


  21. - Bill White - Thursday, Aug 28, 14 @ 10:07 am:

    === The numbers suggest this stock market rally has been pushed by hot air. ===

    I disagree with this. I believe the stock market is being pushed by wage suppression.

    Productivity is up while wages remain stagnant. Those gains are real not illusionary.

    However those gains will not be sustainable into the future unless the purchasing power of the 99.9% is increased.

    = = =

    Perhaps curiously, this might all boil down to whether you believe or disbelieve Say’s Law.


  22. - Steve - Thursday, Aug 28, 14 @ 10:09 am:

    When the tax code got changed which “encouraged” stock options instead of actual compensation for corporate write-offs for payroll: stock options won. Anyway, just a reminder: most companies in America aren’t in the S&P 500. The average CEO in America makes $177,000 a year.


  23. - Anonymous - Thursday, Aug 28, 14 @ 10:12 am:

    “bad decisions one has made in their life”

    You mean like continuing to buy groceries at Jewel at the increasing prices that eat away at income versus growing and harvesting wheat and baking bread or raising cattle in our backyard to slaughter to save money? Get real. Only an ostrich with head buried in the sand( or a .1% er) would think 99.9% of Americans are at fault for every economic problem they have. It is pure and simple greed by those who have and want more. The increasingly shuttered storefronts in my suburban middle class city tell me folks don’t have money to support these businesses….the ones they used to frequent. Most 99.9%-ers have made big adjustments in their lifestyles and not for the better. What recovery? The trickle down is not trickling.


  24. - 47th Ward - Thursday, Aug 28, 14 @ 10:25 am:

    Well, let’s not forget that 9% of $2.4 trillion is still about $200 billion, which is a heck of a lot of money. Why, that’s almost $700 each for the other 300 million Americans.

    $700 each, over a decade. Hard to see why anyone is complaining. A simple “thank you” shouldn’t be too much to ask for. A bunch of ingrates if you ask me.


  25. - Ghost - Thursday, Aug 28, 14 @ 10:27 am:

    This is where you get the ever expanding split between the wealthy complaining that government is just socialists after their money, and the populace whose wealth is being moved by modern day robber barons into fewer and fewer hands.

    if the companies had expanded provisions for health benefits, increased salaries and left theri defined benefitplans alone instead of converting them to bonuses, people may not be pushing for government programs to fill the void.

    We are slowly following the history of Rome that helped lead to its collapse…concerntrating more and more of the worlds wealth in the hands of a few.

    perhaps it is better to have only 7 houses and pay good wages and provide quality health care…….


  26. - mcb - Thursday, Aug 28, 14 @ 10:28 am:

    There’s plenty of blame for all of this everywhere. The shuttered storefronts are probably more due to customers heading to Wal-Mart and the other box stores to “save money”. The idea among consumers that we deserve to pay less for things has continued to push our manufacturers out of the country. If you’re a business and your competitors are producing cheaper products overseas, you either follow suit or go under, because customers will choose cheap and foreign far more often.

    At the same time, I think the stockholders are as much to blame for shareholder value theory issues as CEO’s. The CEO takes orders from those who own stock, and they want to see stock prices higher. If they don’t get what they want then it’s time for a new CEO. So the CEO’s are often taking the only option that benefits them, drive up share prices. Because they can either be rich with a happy board, or poor.
    Everyone from consumers, to shareholders, to politicians needs to realize that there’s often a difference between long term good and short term gains.


  27. - phocion - Thursday, Aug 28, 14 @ 10:33 am:

    Sometimes I tack right, sometimes left, mostly try to stay centered. But this article hit me kinda hard. It’s difficult to defend our current system based on this information. Income disparities are proven to rend the social fabric. I don’t want the government in the redistribution business, but the private sector had better recognize how short-sided their greed is.


  28. - Federalist - Thursday, Aug 28, 14 @ 10:42 am:

    “Yes, its not popular, but they could stem the flow across the border if they chose to, but they choose otherwise, and will tell you they have no solution. Immigrants need cars and homes and food and they will increase consumption without political costs.”

    Not really. Far too many have little money and any jobs they get here will be low paying. Not a legitimate way to increase the economy when so many citizens in this country are unemployed or underemployed.

    The real reason we have massive legal and illegal immigration is that Democrats rightfully see at least 70% voting for them in future elections (and this has been going on now for several decades so that those future elections are actually now) and the Republican backed business interest types want a never ending supply of cheap labor.


  29. - Anonymous - Thursday, Aug 28, 14 @ 10:56 am:

    Income disparities are now rending social fabric. It sounds alarmist but there seems to be increasing low level anger rather than apathy and a feeling of helplessness. Too many people who are educated and have held good jobs only to have lost them are angry and resentful when there are no opportunities to get their standard of living back, or even close. We are becoming very polarized in so many ways in America and I can’t believe that’s a good thing.


  30. - Sue - Thursday, Aug 28, 14 @ 11:03 am:

    Rich- your assertion that the top 5 % own the vast majority of stocks ignores the well known fact that pension programs (including public plans) own the vast majority of equities issued in the USA. CALPERS/CALSTERS and their fellow funds own more equities then all individuals in the market - Public Plans if well managed are reaping the benefits of the recent stock surge- as a result so are the taxpayers who are on the hook for the unfunded liabilities


  31. - Formerly Known As... - Thursday, Aug 28, 14 @ 11:06 am:

    == “Very little” would be 9 percent. ==

    And you should be grateful for that, peons. /s


  32. - thechampaignlife - Thursday, Aug 28, 14 @ 11:16 am:

    ===That left very little for investments in productive capabilities or higher incomes for employees.===

    If they had made those investments, wouldn’t that have already been reflected in the profits (increased expense, lower profit)? If only 9% is left over for such investments, theoretically that could just mean than those investments have already been made and that is why profits were $50M this year instead of $70M, for example.

    I’m guessing if I read the study it would explain that the figure they are using for profits is before such investment costs are factored in, although that seems and odd way to do accounting.


  33. - CircularFiringSquad - Thursday, Aug 28, 14 @ 11:19 am:

    “am very pleased with the returns in the stock market over the last five years. Anyone with a retirement plan should be thankful and happy. Those state retirement plan unfunded liabilities have gotten a lot better over the last five years.”
    Huh? Did you miss the 4+ years of lost growth due to the predatory lenders and the 2+ years of lost growth due to Silicone Valley hustlers Wake Up


  34. - A guy... - Thursday, Aug 28, 14 @ 11:25 am:

    The only people this will make an ounce of sense to are the people in this stratosphere. For everyone else the theme is “Rich people catch all the breaks”. That’s already out there. Not sure how well it’s doing with the targeted undecideds.


  35. - Cheswick - Thursday, Aug 28, 14 @ 11:48 am:

    When a select few have all the money, the money will become worthless.


  36. - A guy... - Thursday, Aug 28, 14 @ 11:59 am:

    Ches, according to some, we’re already at that moment and money has never been more precious. Hmmm.


  37. - anon, - Thursday, Aug 28, 14 @ 12:31 pm:

    These businesses are financing growth with borrowing at the current very low interest rates. The cost of capital through debt is far lower than equity. This is a win - win - win.


  38. - CapnCrunch - Thursday, Aug 28, 14 @ 1:39 pm:

    “I am very pleased with the returns in the stock market over the last five years. Anyone with a retirement plan should be thankful and happy. Those state retirement plan unfunded liabilities have gotten a lot better over the last five years.”…..

    Good point. Retirees in one of the state’s plans have done well. Over the last 6 years they have enjoyed a 19% increase in their pension income while the cost of living( CPI ) has increased only about 11%.


  39. - Bill White - Thursday, Aug 28, 14 @ 1:44 pm:

    == When a select few have all the money, the money will become worthless. ==

    Germany recently sold two year bonds with a negative yield - give us 1000 EU today and we will give you 999 EU back in two years. Folks are paying Germany a fee to hold their cash.

    Nope there isn’t any excess cash sloshing around in the global market. Not a dime. ;-)

    http://www.bloomberg.com/news/2014-08-07/germany-s-bond-advance-sends-2-year-note-yield-below-zero.html


  40. - Left Leaner - Thursday, Aug 28, 14 @ 1:45 pm:

    ==but the private sector had better recognize how short-sided their greed is==

    They won’t. And here lies one of the key problems.

    Our crumbling infrastructure acts as a good example. CEOs and many 0.1%ers need good roads, railways, waterways and communication systems to actually run their businesses. Many are the same people screaming for lower taxes, doing inversions and creating tax loopholes. Concurrently, they lament that our infrastructure is in bad shape without seemingly realizing that the very taxes they try to escape pay for the infrastructure they demand. CEOs and shareholders squeal with high profits without recognizing their cutting off their own legs.

    Remember the brew-ha-ha over Obama’s “you didn’t built this” comment, where he was referring directly to those roads, rail and waterways? Case.In.Point.


  41. - Federalist - Thursday, Aug 28, 14 @ 2:42 pm:

    Left Leaner,

    But are businesses demand lower taxes for infrastructure? Or just demanding lower taxes for other areas of the government budgets?

    Not certain about that, and I am sure one can find single examples off almost anything.

    Can you can provide a number of crediblespecific examples of such businesses saying cut my taxes to be used for infrastructure?


  42. - redleg - Thursday, Aug 28, 14 @ 4:10 pm:

    Anybody who has followed the creation of the Federal Reserve and the boom/bust periods it has created shouldn’t be surprised.

    It’s fiat people. Stay tuned people because the bottom hasn’t been reached yet.


  43. - Madison - Thursday, Aug 28, 14 @ 6:18 pm:

    Red leg the good standard created enormous depressions in the 19th century, and the silver standard did not help later. When your economy is linked to the price of a commodity (precious metals) and the value of that commodity declines, so does your economy. Even today there are some gold bugs around, but not any solvent ones.


  44. - Anonymous - Thursday, Aug 28, 14 @ 9:04 pm:

    9% ten years wow you could double your cash in a little over a 100 years


Sorry, comments for this post are now closed.


* Deal outline begins to emerge
* Question of the day
* Rauner proposal funds abstinence education grants
* Social services implode as middle class shrinks
* Reporters are understandably freaking out about Chicago's violence
* IDPH director violated rules, judge declares, so med-mar coverage must include PTSD
* "It was as if a mini-Capitol had sprouted"
* Kirk slams Duckworth and "crooked Democratic machine in Springfield" which defended her
* A little late
* Group warns Rauner stopgap does "nothing" for human service provider contracts
* "The wasteland that is Illinois"
* SUBSCRIBERS ONLY - Supplement to today’s edition
* *** LIVE *** Leaders meeting and session Coverage
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Good morning!
* Stay tuned
* 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

  
* OK-Google.io – Interactive way to learn OK Google commands
* Galaxy S8 could also get Galaxy J2’s Smart Glow
* Wi-Fi 802.11ac Wave 2 could double speeds
* Carl Pei of OnePlus posts sketches of canceled smartwatch
* Drawing App 'Procreate Pocket' Available for Free Through Apple Store App
* Samsung could muster 40 million OLED panels for iPhones next year
* Pocketnow Challenge July: Best fireworks photo? You decide!

* For first time since big trade, Shields delivers
* Sprained wrist to sideline Melky 3 or 4 days
* Shields' win gets big assist from Eaton
* Sox hold off Twins, net Shields 1st Chicago W
* Stephens among top prospect performers Wednesday
* Hit in 57 games, win $5.6 million
* 2016 Draft: Signing and bonus tracker

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


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

Archives
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
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


* Illinois lawmakers set to vote on stopgap spend.....
* Illinois lawmakers set to vote on stopgap spend.....
* Illinois lawmakers set to vote on stopgap spend.....
* Illinois lawmakers set to vote on stopgap spend.....
* Illinois lawmakers set to vote on stopgap spend.....
* Illinois lawmakers set to vote on stopgap spend.....
* Aldertrack's Mike Fourcher on the stopgap budge.....
* Budget uncertainty reigns as fiscal 2017 looms .....
* Uncertainty reigns as fiscal 2017 looms - DeKal.....
* Illinois governor, lawmakers nearing budget dea.....


* Illinois governor, lawmakers nearing budget deal
* Former Chicago fire official faces misdemeanor over crash
* Excerpts from editorials on Illinois' budget impasse
* Illinois newspapers tell Rauner, Democrats, 'Do Your Job'
* Illinois owes $82,000 in utility bills for Peoria
* Lawsuit filed by ex-officer against police chief dismissed
* Pet owners urged to protect pets during July 4 celebrations
* Money donated in bid to make Illinois site national park
* GOP, Democrats say progress made in Illinois budget talks
* Illinois lawmakers say progress made on stopgap budget

* Deal to fund schools, 6 months of state services nearing passage
* Illinois Republicans say deal close on six-month budget, school funding
* Illinois governor, leaders negotiating stopgap budget
* Follow live: Budget negotiations at the Illinois Capitol
* 'Daily Show' makes fun of Illinois budget situation
* State owes $82,000 in utility bills for Corrections facility in Peoria
* Carlinville train station upgrade dependent on state budget
* Governor, leaders say progress made on budget deal
* Deadrick Wolfer suspends House race vs. Scherer
* Higher education coalition urges full funding for both 2016, 2017

* The deal that will get Illinois a stopgap budget
* Accretive Health restructuring plan cuts 41 employees
* Gannett's little digital deal has a takeaway for Tronc
* Here are details of that United labor deal
* It's a miracle! Cook County Board moves toward merger of clerk, recorder jobs


* 17-year-old girl shot in Chicago Lawn
* Man shot in Austin
* Joakim Noah set to join the Knicks
* Georgia Nicols horoscopes for June 30, 2016
* Dear Abby: Denied handouts, brother lashes out at his family
* That’s more like it: Shields pitches White Sox past Twins
* Blast or gassed, Rizzo will take first inside-the-park homer
* Can Edwards be the impact power arm that bolsters Cubs’ bullpen?
* 2 teens shot in Austin
* Man shot multiple times near Clark and Division


* 2 dead, 7 injured in Chicago shootings
* Grizzly bear kills 38-year-old mountain biker near Glacier National Park
* Rodrigo Duterte, 'The Punisher,' sworn in as president of Philippines
* Istanbul airport attackers seized on chaos to cause carnage, kill 42
* Bulls figure to be bottom-feeders in NBA free agency
* Bulls' Joakim Noah expected to sign with Knicks for $18M a year: reports
* James Shields finally shows up, gets standing ovation in White Sox victory
* Trump dares business to flee Republican Party
* Inside the Democratic Party's showdown over Israel-Palestine
* 'Tesla Solar' wants to be the Apple store for electricity


* Deal to fund schools, 6 months of state services nearing passage
* Bernard Schoenburg: A break in the acrimony? Some OK signs
* Guest column: Congressional delegation must aid Illinois patients
* Eugene Robinson: Brexit's cautionary tale for Trump supporters
* George F. Will: The hinge of the Great War
* Illinois Republicans say deal close on six-month budget, school funding
* Follow live: Budget negotiations at the Illinois Capitol
* 'Daily Show' makes fun of Illinois budget situation
* State owes $82,000 in utility bills for Corrections facility in Peoria
* Enough: Illinois' budget standoff must be resolved


* PODCAST: Sports Talk 6-29-16
* PODCAST: Little League 3rd place game 6-29-16
* PODCAST: Little League 6-29-16
* MTD agrees to buy 5 buildings near terminal for $1.16 million
* MTD agrees to buy 5 buildings near Illinois Terminal for $1.16 million
* Grentz reflects on death of icon
* Leman ready for turnaround
* UI hoops recruit glance: Nojel Eastern
* Glendale Commons expansion is "God-sent"
* For the homeless, Glendale Commons expansion is 'God-sent'


* Noah expected to sign with Knicks for $18 million a year
* NHL free agent pool is deep even without Stamkos
* Illinois lawmakers set to vote on stopgap spending deal
* Lowrie, Alonso homer to lead Athletics past Giants 7-1
* A maverick Duterte takes office as new Philippine president

* House lawmakers overcome hurdle on key tra...
* Rodney Davis talks funding with Bloomingto...
* The agency that fought Illiana gets a new ...
* Rep. Dold takes educational cruise down Ch...
* Lawmakers decry high turnover rate of VA h...
* CBD Oil, and politics
* Simon considering state Senate bid
* Killer Congressman Tom MacArthur trying to...
* Shutdown? State may not notice
* Rep. Bob Dold

* Illinois to get $17 million for HIV assist......

* Kirk Slams VA for Ignoring Veterans Crisis......

* Cartoon Of The Day
* Suicide Now 2nd Leading Cause Of Death Among IL Youth
* Drug Overdose Death Reportedly 'Linked' To Illinois Budget Impasse
* Cartoon of the Day - 6/24/16 Rauner impact of cuts to social services
* Cartoon of the Day - 6/29/16 - Texas abortion decision
* Facebook for fluff, not the news?
* Thomas More Society: Supreme Court views vital protection as "unnecessary"
* Republicans hopeful about budget deal
* Governor, Local Mayors Urge Passage of Stopgap Budget and Education Funding
* Former Jack Ryan campaign staffer signs on with Trump


* Emergency Management Officials, National Weather Service Encourage Winter Preparedness - November is Winter Weather Preparedness Month in Illinois
* Keep Your Family Safe This Winter - November through February are leading months for carbon monoxide related incidents
* Governor Takes Bill Action
* Illinois Department of Labor Director Hugo Chaviano Awards Governor’s Award for Contributions in Health and Safety to the Illinois Refining Division of Marathon Petroleum Company LP
* State Regulator Elected Treasurer of Interstate Medical Licensure Compact




Hosted by MCS -- CapitolFax.com Privacy Policy -- SUBSCRIBE to Capitol Fax -- Advertise Here -- Mobile Version -- Contact Rich Miller