Taxpayer Education Foundation founder Jim Tobin is putting his two-cents regarding the debate about the $1.9 trillion stimulus plan being proposed in Washington.
Tobin told The Center Square he is strongly opposed to any federal bailout, adding he’s convinced the Illinois government needs to fail to alter its irresponsible spending habits.
“Tax dollars are like crack to the Illinois government bureaucrats, and like any kind of addict, the worst thing you could do is to continue to feed the addiction,” Tobin said.
A recent Truth in Accounting analysis placed Illinois 49th in the country with a grade of “F” for health in finances, pegging the state’s outstanding bills at $226 billion. Of that debt amount, the vast majority is in unfunded pensions and retiree health care benefits.
“There are 148,654 Illinois government pension millionaires,” Tobin said. “These are people who will get over a million dollars over the course of their retirement.”
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