discussions resumed yesterday in
with Gov. Quinn still pitching a "long shot plan" to borrow $3.7 billion for a
pension payment. However, Sun-Times reporter Steve Contorno writes that without Republican support,
the pension payment is likely to get skipped, ultimately costing the state
billions more in the future - ahem, billions more?
Quinn may not be thinking of a back up plan, it seems House Dems are:
entice Republican support to get the 71 votes needed for approval, they would
tie pension borrowing to approving new bonds to pay for road and school
We've said our peace on budget and pension solutions, which you can find here.
Meanwhile, the House Democrats
also proposed a slew of cuts to "spread
the pain" of Illinois' budget crisis, as reported in today's Daily Herald - including massive cuts to education and charging
retired state employees premiums for their health insurance, finally
acknowledging state workers' plans are far too generous.
"As much as we love our retirees, this is a tough-love exercise," said Rep. Karen
May. "They have to feel the pain."
Anyone in the private sector 'feel the pain' for the state employees? Didn't think so.
According to Chicago Public Radio, Quinn wants a budget by Friday before the
Memorial Day weekend.With Democrats and Republicans unable to agree on pension payments and spending cuts, we think the outlook is bleak.