The administrators who run Chicago Public Schools, the taxpayers who fund the district and CPS parents have a real mess on their hands. CPS is facing a $500 million budget shortfall for the 2015-16 school year alone. Altogether, the district is over $1 billion in the hole, and the debt CPS is carrying has been labeled “junk” by Fitch Ratings, Moody’s and Standard & Poor’s.
In today’s edition of the Heartland Daily podcast, managing editor Jesse Hathaway and Heritage Foundation macroeconomics research fellow Salim Furth talk about the latest news from Puerto Rico’s slow-motion fiscal train wreck.
On Sunday, April 5, Senior Fellow Peter Ferrara was a guest on the radio show “On The Money” with host Mike Vitoria on 970 The Answer in New York City. Ferrara was on to discuss America’s looming entitlement crisis.
In this edition of the Heartland Daily Podcast, managing editor of Environment and Climate News, H. Sterling Burnett talks with Benita Dodd. Dodd is Vice-president of the Georgia Public Policy Foundation. Burnett and Dodd discuss the recent solar power boondoggle in Georgia.
Not only is Social Security in the worst shape it has ever been in, a recent Congressional Budget Office (CBO) report reveals the problem has grown significantly worse under the Obama administration.
Efforts are underway by the Taiwan government for a government led restructuring to avoid bankruptcy (Plan to stop Taiwan’s high-speed rail going bust set for review). Since opening in 2007, this privately financed and operated system has been plagued with ridership well below projections. The Taiwan experience is consistent with the research showing that ridership on high-speed rail lines has been frequently over-projected.
Craig and Ponte point to 1913 as the year progressive, collectivist ideas “took control of the United States government and began a ‘fundamental transformation’ of our economy, politics, culture and beliefs that continues today.”
My colleague at The Heartland Institute, Eli Lehrer wrote a rather controversial op-ed for the Weekly Standard recently arguing that “Pensions Aren’t the Problem.” Eli’s piece makes some good points[…]