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Archive → January 31st, 2017

Campaign Headquarters Grand Opening Support Roger Claar and Bolingbrook First Party

Roger Claar is one of those elected officials that care about the people he represents. He has done a more than excellent job bringing in Business and keeping taxes down. Please show your support and remember to vote.

Campaign Headquarters Grand Opening

Join us as the supporters of Roger C. Claar and the Bolingbrook First Party sponsor the grand opening of their campaign headquarters in Bolingbrook! Stop by any time on Monday, February 6th , from 5 to 8 p.m. to see the office. Be sure to bring your friends and family. Refreshments will be served! We hope to see you all there. For more information, please see the invitation below.

Paid for by Committee to Elect First Party for Bolingbrook
A copy of our report filed with the State Board of Elections is (or will be) available on the Board’s official website (www.elections.il.gov) or for purchase from the State Board of Elections, Springfield, Illinois.
Our mailing address is:
128 E. Boughton Road
Bolingbrook, IL 60440

Source: Will County News

Open House for Bolingbrook First Party headed by Mayor Roger Claar

Roger Claar has done more than an excellent job as Mayor of Bolingbrook. Just look at all the development other cities only dream of. Roger is one of those elected officials that still cares about doing a good job and helping the people he represents. Please come out and SUPPORT Mayor Claar, and if you live in Bolingbrook make sure you vote.

Source: Will County News

Moody’s warns of an Illinois death spiral

Illinois’ weak economic growth and population loss may signal the beginning of a financial death spiral.

The number of Illinoisans fleeing their home state has garnered the attention of Moody’s Investors Service, an agency that assigns ratings to government debt. In Moody’s U.S. Public Finance Weekly Credit Outlook, released Jan. 5, the credit agency pointed out that Illinois’ weak economic growth and consistent population loss are credit negative – which means the agency thinks Illinois’ credit outlook isn’t good. Government data shows that Illinois’ population is bleeding out to other states and that wealthier Illinoisans in particular are leaving fastest. These are the kind of negative indicators that lead agencies like Moody’s to issue downgrades.

Moody’s notes that population flight and tepid economic growth will complicate efforts to enact a balanced budget and keep up with mounting pension funding pressures.

There are good reasons for Moody’s warning. As they note, Illinois’ population flight is unlike the exodus from any other Midwestern state. Illinois is the only shrinking state in the region.

illinois outmigration

In fact, on a per-capita basis people are fleeing Illinois more than three times faster than Michigan, the next-worst state in the Midwest.

illinois outmigration

Furthermore, the Moody’s analyst who wrote the analysis noted that it’s normal for Midwestern states to have some degree of out-migration, writing:

“Net domestic migration … is not uncommon in the Midwest”

However, Illinois’ out-migration is different. The analyst noted that:

“Many of the top states for those leaving Illinois are nearby or adjacent states”

It is true that Illinoisans are leaving for nearby states, not just for the south and west. The most recent year of Census Bureau state-to-state migration data show that Indiana is the leader in attracting Illinoisans, gaining 20,000 more people than they lose to Illinois. Border states Wisconsin, Iowa and Missouri also make the top six.

 

illinois outmigration

Illinois loses population to every state in the Midwest, making up half of the state’s estimated migration losses for 2015.

 

illinois outmigration

Moody’s points out that economic growth is essential to stem the losses, writing that “stronger economic growth in the state clearly would lure more job-seekers from the outside, bringing Illinois’ flow of exiting and arriving migrants closer to balance.”

Finally, the analysis points to the possibility of Illinois entering an economic and financial death spiral. The analyst writes

“Perhaps more important, population loss can be a cause, as well as an effect, of economic deterioration. A self-reinforcing cycle of population loss and economic stagnation could greatly complicate Illinois’ efforts to stabilize its finances. Not only is Illinois caught in a political stalemate over how to address fallout from a tax cut that took effect two years ago, but its operating budget faces a long-term challenge from steadily mounting pension funding requirements.”

Preliminary numbers from the Commission on Government Forecasting and Accountability show that state tax revenues might be in decline on a year-over-year basis. If this is true, Illinois is either entering a recession or is experiencing so much out-migration that the tax base is disappearing. IRS data show that it is increasingly high-income Illinoisans who are leaving.

Illinois needs to first protect homeowners by enacting a permanent property tax freeze. Then, the state must aggressively slash spending by changing collective bargaining agreements with government unions and amending the constitution to allow for reforms to pension benefits. Finally, economic growth and business investment needs to be encouraged by fixing the state’s workers’ compensation system along with other regulatory reforms.

Illinois is approaching a tipping point where the possibility of collapsing into an economic death spiral is real. Taxes are already driving out residents and more taxes to pay for government spending will drive out even more residents as the state population continues to shrink.

Without real reform, Illinois will end up like a failing cable company that is losing customers and responds by raising service rates on remaining customers, causing even more to leave. It’s a losing strategy and will simply quicken the stampede of Illinoisans fleeing to surrounding states.

TAGS: midwest, Moody’s Investor Service, outmigration, population

Source: Will County News

Watch the Video about 1983 /Michael Madigan became speaker of the Illinois House in 1983

 

Source: Will County News

Trump freezes EPA for examination

Trump freezes EPA for examination

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Under the Obama administration, the Environmental Protection Agency experienced a massive expansion in power. It looks like that’s about to change.

According to reports Tuesday, the Trump administration has ordered the EPA to temporarily cease all social media, blogging and the release of press releases. More importantly, the administration ordered the agency to hold off on awarding any new contracts or grants.

“Right now we are in a holding pattern. The new EPA administration has asked that all contract and grant awards be temporarily suspended, effective immediately. Until we receive further clarification, this includes task orders and work assignments,” an EPA contracting officer said in an email obtained by ProPublica.

Trump spokesman Sean Spicer said the moves are part of the administration’s effort to review agency policies as new leadership takes over.

Myron Ebell who has headed EPA transition efforts said the move to freeze certain activities at the agency aren’t unprecedented despite liberal overreactions.

“They’re trying to freeze things to make sure nothing happens they don’t want to have happen, so any regulations going forward, contracts, grants, hires, they want to make sure to look at them first,” Ebell told ProPublica.

“This may be a little wider than some previous administrations, but it’s very similar to what others have done,” he added.

Source: Will County News