Political analyst Jim Nowlan insists that Illinois needs to appoint an independent board that will better account for the long-ignored pension crisis, a broken Medicaid system and countless other issues in formulating the state budget.
Such a process, he says, is necessary to "save ourselves from ourselves." For starters, Nowlan suggests that Gov. J.B. Pritzker's proposed tax on high-income earners is not enough to pull the state out of its financial nosedive.
"Fiscal disaster might be delayed, but not averted," Nowlan told West Central Reporter.
Political analyst Jim Nowlan | YouTube
Pertaining to pensions, Nowlan suggests a hybrid "pay-as-you-go" system similar to Social Security that could save approximately $2 billion a year. Nowland also suggests federal action to correct Medicaid issues.
"I project that Illinois could save $2 billion or more a year in state expenditures if the federal reimbursement formula were revised, as it should be," Nowlan said.