Today's Budget News: April 26

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.

Also, don't forget to follow us on Twitter (@IllinoisIsBroke) and Facebook.

Comments

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  • Quinn is irresponsible and incompetent. He is bought and paid for by the special interests and will stay bought and paid for.

  • Also, it was pointed out at the time that when the Civic Federation said ok. to a tax increase, it was on a number of conditions that Quinn would ignore. Sure enough, he did.

    Also, how can the state (and especially Quinn) use cash basis budgeting, but then say that a bill that "reforms pensions" only for employees who haven't been hired yet takes care of the current "crisis?"

  • Obama's Health Care bill will cost every citizen much more than Obama's one trillion dollar promise. There is nothing free and Illinois in learning that after profligate spending for years'
    Here is the Health Care story:The Congressional Budget Office (CBO) has released its final price tag for health care reform, and it's at least $115 billion more than projected. Much of that is due to authorizations for discretionary spending put in the legislation by those drafting the bill.

    The Obama administration said it would cap spending on the initiative at $1 trillion over 10 years. The new numbers would break that unofficial promise.
    Obama is only concerned about destroying America so his Progressives will benefit. Learn about The Chicago Climate Exchange[CCX] which has many of Obama's friends ready to reap billions form the Cap& Trade bill John Kerry is trying to pass.It is the biggest scam in history and the Tribune must start telling us about the participants and their history.

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