archive-edu.com » EDU » U » UILLINOIS.EDU

Total: 1146

Choose link from "Titles, links and description words view":

Or switch to "Titles and links view".
  • Five Things to Know About the National Economy and Illinois | Institute of Government and Public Affairs
    that the economy may continue to be in a state of decline According to the Flash Index IGPA s indicator of the Illinois economy the economy has continued to decline albeit slowly for the past year The slowing of the decline is good news but it will take time to understand the impact of recent market volatility 2 States will continue to feel pressure to take care of fiscal issues as soon as possible Cuts in spending at the federal level attributable to the recent deal on the debt ceiling with no increase in taxes are likely to mean cuts in all kinds of federal discretionary spending including grants to the states says Merriman The U S Congress is likely to enact more unfunded state mandates which means requiring the states to spend their own money to provide basic services that the federal government used to provide Governors and legislators are unhappy about these changes as it puts even more pressure on state governments Merriman points out that this should come as no surprise to Illinois This has been foreseeable for some time so it does not significantly exacerbate the problem that we already knew existed 3 Job growth will depend on balance Illinois must find a balance between raising revenue and cutting spending As Fullerton explains A state with the smallest possible budget would have very little spending on infrastructure road quality sanitation police protection education training and other social services Yet many of those programs are important for businesses to be able to function properly The trick is to find the right balance spending the minimal decent amount on those programs as necessary for businesses and employees alike The biggest factor that will influence job growth in Illinois is macroeconomic recovery from the recession of 2008 Economists do not all agree about the impact of the debt ceiling deal on the recovery If the deal slows government spending it could slow or halt the recovery because it will reduce demand for the things government buys On the other hand if the deal increases confidence that in the long run the U S will fix its fiscal problems and will have continued growth it could encourage expansion Giertz adds that even with the massive federal stimulus program and unprecedented aggressive intervention by the Federal Reserve in late 2010 unemployment is likely to remain high for several years Even though the economy is growing the rate of growth is low compared to other recoveries Giertz says This level of growth is not sufficient to fully absorb new entrants into the workforce along with those who are unemployed IGPA s Illinois Economic Review found that Illinois lost 7 200 jobs in June the first month of losses since December 2010 4 Many questions remain about the deficit deal Merriman points out that any coherent long term plan for serious deficit reduction would have to include cuts to defense and cuts to entitlement programs like Social Security and Medicare Congress is not

    Original URL path: http://igpa.uillinois.edu/content/five-things-know-about-national-economy-and-illinois (2016-02-17)
    Open archived version from archive


  • Ill. Economic Review: Jobs decline in June | Institute of Government and Public Affairs
    Office of Public Leadership Regional Economics Applications Laboratory Ill Economic Review Jobs decline in June Illinois lost 7 200 jobs in June the first month of losses since December 2010 according to the Illinois Economic Review However the review published by IGPA s Regional Economics Applications Laboratory indicates that Illinois job growth remains positive relative to a year ago Read the entire review Attachment Size IERJuly2011 pdf 709 66 KB

    Original URL path: http://igpa.uillinois.edu/analysis/IER-July2011 (2016-02-17)
    Open archived version from archive

  • IGPA's Geoff Hewings discusses debt ceiling negotiations | Institute of Government and Public Affairs
    Laboratory IGPA s Geoff Hewings discusses debt ceiling negotiations July 26 2011 IGPA economist Geoffrey Hewings says pure political rhetoric appears to be all that is keeping Congress and President Obama from reaching agreement on the nation s debt ceiling dilemma In an interview with the Kankakee Daily Journal Hewings said The implications here are massive And the sad thing is that they are not that far apart except for

    Original URL path: http://igpa.uillinois.edu/press/in-the-news-hewings-debt (2016-02-17)
    Open archived version from archive

  • Illinois Economic Review: Jobs picture continues to improve, but challenges remain | Institute of Government and Public Affairs
    Public Leadership Regional Economics Applications Laboratory Illinois Economic Review Jobs picture continues to improve but challenges remain Total non farm jobs are expected to increase by a range of 50 000 to 122 000 over the course of the next year according to the Illinois Economic Review published by IGPA s Regional Economic Applications Laboratory The latest review shows the state added 9 000 jobs in April Read the full

    Original URL path: http://igpa.uillinois.edu/press/IER-May2011 (2016-02-17)
    Open archived version from archive

  • Illinois Economic Review: More signs of recovery | Institute of Government and Public Affairs
    Economics Applications Laboratory Illinois Economic Review More signs of recovery The new Illinois Economic Review published by IGPA s Regional Economic Applications Laboratory shows continued signs of slow recovery in the state The April review which analyzes March employment data shows another month of job gains in Illinois with the three month moving average of jobs up by more than 15 000 jobs per month Read the full Illinois Economic

    Original URL path: http://igpa.uillinois.edu/analysis/IER-Apr2011 (2016-02-17)
    Open archived version from archive

  • Illinois Economic Review indicates better job forecast ahead | Institute of Government and Public Affairs
    Flash Index About Archive Illinois Budget Policy Toolbox Illinois Economic Review Opinion Monitor Trends in Racial Attitudes Library Policy Forum Search Programs Events Douglas Ethics Award Edgar Fellows Program NEW Leadership Illinois IGPA State Summit Family Impact Seminars 2015 Seminar 2014 Seminar 2013 Seminar 2012 Seminar 2011 Seminar 2010 Seminar 2009 Seminar Study Centers Office of Public Leadership Regional Economics Applications Laboratory Illinois Economic Review indicates better job forecast ahead The outlook for people seeking work in Illinois continues to improve slowly according to an analysis of employment produced by IGPA s Regional Economic Applications Laboratory The Illinois Economic Review says job growth has remained solid for several months with the three month moving average of jobs a more stable measure of the labor market than monthly figures was up by 12 200 jobs per month Read the full Illinois Economic Review Library Special Publications Related Content Illinois Economic Review forecasts some job shrinkage in coming 12 months Illinois Economic Review shows continued job growth for state Illinois Economic Review shows continued steady economic recovery to pre recession job levels Search the web Search igpa uillinois edu Search igpa uillinois edu library IGPA Site IGPA Library The Institute of Government

    Original URL path: http://igpa.uillinois.edu/analysis/IER-Mar2011 (2016-02-17)
    Open archived version from archive

  • IGPA Experts React to Gov. Quinn's Budget Speech | Institute of Government and Public Affairs
    Nicole Kazee Gov Quinn has proposed a sketchy unbalanced budget that generates more questions than it answers and includes major proposed cuts that may well prove to be phantom in the sense that there will be strong objections from powerful interests groups The governor s budget book presents a budget that is 1 45 billion in deficit which means that the legislature will have to play a major role in crafting a balanced budget one that would avoid even further borrowing In addition the proposed 500 million in cuts to medical providers hospitals and doctors in the Medicaid program is unlikely to be achieved because 1 the present rates are already low and 2 the influential medical lobby will fight the proposed cuts aggressively By not proposing a credible balanced budget the governor increases the role of the legislature in shaping the final budget and it is difficult to know where the lawmakers will make cuts With neither the governor nor the minority party Republicans apparently willing to tackle the crafting of a balanced budget the budget hot potato will fall into the laps of the Democrats in the state House and Senate The proposal to create a revenue reform commission makes good sense because the present revenue system is narrowly based and unresponsive to growth in the economy While I don t expect that recommendations of such a commission would be embraced immediately by the legislature the product could prove to be valuable background in the future when a subsequent fiscal crisis is encountered IGPA Senior Fellow Jim Nowlan Illinois budget deficit was nearly 13 billion when the legislature passed a necessary but unpopular tax increase Next year s deficit is still expected to be at least 7 billion and expenditures continue to increase at a much faster rate than revenues Though states cannot legally declare bankruptcy Illinois is acting much like a bankrupt private business forcing creditors to endure long payment and the very real possibility that they never receive full payment Just as the massive tax increase was necessary to restore some financial order to the state budget some form of debt restructuring is needed if creditors are to be paid in anything close to a timely fashion Debt restructuring does nothing to eliminate the deficit problem however Expenditures are still projected to rise at a much greater rate than revenues and the governor s proposal does not include significant expenditure reductions Accepting his figures at face value the reduction in the Medicaid reimbursement rate will save 550 million school district consolidation will save 100 million and elimination of state funding for the salary and office costs of regional school superintendent will save 13 million Though not detailed in his speech the governor s office claims that the cuts add up to 1 billion certainly a large sounding number but one that is most likely based on overly optimistic projects and still far below what is necessary to eliminate the deficit Nor is it clear that these

    Original URL path: http://igpa.uillinois.edu/content/igpa-experts-react-gov-quinns-budget-speech (2016-02-17)
    Open archived version from archive

  • Illinois budget woes: Titanic and sinking | Institute of Government and Public Affairs
    unpaid bills will grow at a frightening rate researchers Richard Dye Nancy Hudspeth and David Merriman write in a chapter for The Illinois Report 2011 For instance IGPA s Fiscal Futures Model indicates that Illinois backlog of unpaid bills could reach 40 billion by July 1 2013 with an associated delay in paying those bills of more than five years The full chapter from The Illinois Report 2011 is now available at http igpa uillinois edu IR11 Titanic and sinking The entire report will be available February 1st The chapter is based on research done for the Fiscal Futures Project co directed by Dye an economist and Merriman a professor of public administration at the University of Illinois at Chicago The IGPA model projects the state budget into future years using past trends in spending and revenue For The Illinois Report 2011 the authors find that If personal income corporate income and general sales tax revenue all returned to their 2008 peak levels in inflation adjusted dollars state revenue would increase by only 2 8 billion far short of what would be needed to close a gap that is now about 12 billion If current spending and revenue practices continue the principal and interest payments on borrowing to keep the backlog of unpaid bills in check would consume all of the state s personal income tax revenue by 2014 and every dollar received from personal income corporate income and sales taxes combined by 2019 To achieve a balanced budget in 2012 by raising income taxes the individual and corporate income tax rates would need to rise to 7 1 percent and 11 3 percent respectively To achieve a balanced budget in 2012 by raising sales taxes the current state rate of 6 25 percent would have to rise to 13

    Original URL path: http://igpa.uillinois.edu/press/state-budget-IR11 (2016-02-17)
    Open archived version from archive