From Terry Smith
Lanark
As reported by The Illinois Policy Institute, Illinois' bond rating ranks 49th of all states, with the state owing $6 billion in current debt, and $83 billion in unfunded liabilities. For three decades, Illinois economic growth has lagged the rest of the U.S. According to the American Legislative Exchange Council (ALEC), our economic outlook has been downgraded yet again, to 47th. How did our ship of state get itself in such a pickle?
For starters, make all the residents poorer - we rank 38th in personal income growth. Next, reduce the number of taxpayers - we rank 48th in net population growth, having lost over 600,000 people in the last decade. How does a state accomplish this? Reduce job growth Ë- we rank 48th in job growth. It's no coincidence that the ALEC Economic Performance Rank has Illinois listed 48th.
What's wrong with Illinois? Is there something wrong with our water, our air, or our people? Answer: none of the above. If you look at the indicators used to derive the performance ranking, the items dragging the state down are all controlled by state government. Among the worst are: tort litigation and judicial impartiality, worker's comp costs, and debt service costs. While Illinois ranks pretty well in major taxes (sales, income), the "remaining" tax burden (fees) is among the worst in the country. And don't look for improvement any time soon: Recently legislated tax changes put us at 48th, and the Wall Street Journal reports Pat Quinn as having the 46th worst fiscal policy of all governors.
There's nothing wrong with this state which cannot be fixed by educated voters.
"The natural cure for an ill-administration, in a popular or representative constitution, is a change of men." - Alexander Hamilton
Lanark
As reported by The Illinois Policy Institute, Illinois' bond rating ranks 49th of all states, with the state owing $6 billion in current debt, and $83 billion in unfunded liabilities. For three decades, Illinois economic growth has lagged the rest of the U.S. According to the American Legislative Exchange Council (ALEC), our economic outlook has been downgraded yet again, to 47th. How did our ship of state get itself in such a pickle?
For starters, make all the residents poorer - we rank 38th in personal income growth. Next, reduce the number of taxpayers - we rank 48th in net population growth, having lost over 600,000 people in the last decade. How does a state accomplish this? Reduce job growth Ë- we rank 48th in job growth. It's no coincidence that the ALEC Economic Performance Rank has Illinois listed 48th.
What's wrong with Illinois? Is there something wrong with our water, our air, or our people? Answer: none of the above. If you look at the indicators used to derive the performance ranking, the items dragging the state down are all controlled by state government. Among the worst are: tort litigation and judicial impartiality, worker's comp costs, and debt service costs. While Illinois ranks pretty well in major taxes (sales, income), the "remaining" tax burden (fees) is among the worst in the country. And don't look for improvement any time soon: Recently legislated tax changes put us at 48th, and the Wall Street Journal reports Pat Quinn as having the 46th worst fiscal policy of all governors.
There's nothing wrong with this state which cannot be fixed by educated voters.
"The natural cure for an ill-administration, in a popular or representative constitution, is a change of men." - Alexander Hamilton
