public employee pension

Illinois Still Insolvent as Democrats Over-ride Veto to Raise Taxes

Moody’s credit rating service warned on Wednesday that new tax hikes by Illinois’ Democrat-controlled legislature, which over-rode a Republican governor’s veto, may still leave the state insolvent and subject to its debt being the first in the nation to be downgraded to “junk.”

Illinois state flag (Anita Lambert / Flickr / CC / Cropped)

Moody’s Warns of Lower State Pension Investment Expectations

Moody’s Credit Rating Service warned last week that budgetary pressure on state and local governments is accelerating as public employee pension systems are forced to follow moves by CalPERS and CalSTRS to lower investment return expectations to 7 percent.

CalPERS (Reuters / Max Whittaker)

Stanford: Public Pension Debt Jumps 84%, to $4.8 trillion

The latest report from the Stanford Institute for Economic Policy Research has revealed that the public pension debt for the 50 states and the District of Columbia jumped 84 percent in recent years, from $2.625 trillion in 2008 to $4.833 trillion in 2014.

In this handout provided by the National Aeronautics and Space Administration (NASA), a second full moon for the month of July rises behind the dome of the U.S. Capitol on July 31, 2015 in Washington, DC. In recent years, people have been using the name Blue Moon for the second …