9/5/2012
by Ben VanMetre Senior Budget and Tax Policy Analyst
During Gov. Quinn’s DNC
address, he invoked John Adams’ famous line, “facts are stubborn things.”
Quinn presented his facts
about President Obama’s track record. Quinn presented his facts about Governor
Romney’s track record. And Quinn presented his facts about Congressman Ryan’s
track record.
There was one track
record that Quinn failed to mention. His own.
If Quinn wants to talk about the
facts, then let’s talk about the facts.
Illinois’ state debt:
Illinois' total
state debt is $271 billion.
Illinois'
state debt per resident is $21,000.
Illinois has
roughly $8.5 billion in unpaid bills.
Illinois’ economic
performance:
39 states
have a lower unemployment rate than Illinois.
It will take 43 months
for Illinois’ unemployment rate to recover to its pre-recession low, given the
current pace of job creation and assuming no growth in the labor force.
Unemployment
in Chicago is stalled at 10.5%
Illinois is
48th in job growth.
Illinois is
48th in economic outlook.
Illinois is
48th in economic performance.
The rate of entrepreneurship in Illinois has been below the national
average every year since 1996, with the exception of 2001.
Chicago is tied with Detroit for the worst entrepreneurship rate among
the 15 largest metropolitan areas in the country.
Illinois has
had 12 credit downgrades since 2008.
Illinois has
more units of local government than any other state in the nation.
Illinois’
pensions:
Illinois has
the worst funded pension in the nation.
Illinois'
pension inaction costs the state $18 million per day.
Illinois
pension funds need 19 percent annual investment returns in order to pay for the
promised benefits.