Civic Federation released a report today opposing Governor Quinn's $52 billion FY2011 recommended State operating budget, stating it is:
"unbalanced and does too little to address the State's fiscal crisis. The
Governor's recommended budget borrows billions to pay for operations
while continuing to ignore the massive backlog of unpaid bills, which
will make the State's financial condition worse."
The report garnered some immediate attention from the Chicago Tribune editorial board Quinn's Bad Monday:
Gov. Quinn, House Speaker Michael Madigan, Senate President John Cullerton: All you had to do is act on behalf of taxpayers and reform how Illinois spends money. You would have had an influential group of business and professional people willing to go along with a tax increase.
But you didn't. So you don't.
The suburban Daily Herald also started a full series on Illinois' pension crisis over the weekend, examining how we got into this mess and soon, what steps we can take to get out. Check out yesterday's editorial, Springfield's costly and broken pension promise, to start.
And, despite the legislatures pension reform changes last month, the New York Times and Chicago News Cooperative stated the Pension Financing Shortfall Is a Threat on the Horizon for State.
Today's Budget News is going to be a regular feature on State of Your State, so check back often to look at news highlights and keep up-to-date with the latest opinions from Illinois' key influencers.