Recognizing that Illinois' budget deficit and unfunded retirement debt are among the worst in the country, the Civic Committee of The Commercial Club of Chicago launched "Illinois is Broke", a statewide campaign to raise public awareness about the state's dire fiscal straits.
The campaign is designed to engage the public and calls on candidates and elected officials to fix the state's $130 billion debt -- $120 billion of which is related to state pensions and retiree health care. The state's retirement obligations are crowding out other essential state services, and if reforms are not implemented these programs run the risk of insolvency.
The blog will provide compelling opinions, detailed facts and gripping analysis of your state's dire fiscal crisis. Think of this as a year-round "State of the State" address.
The Civic Committee of The Commercial Club of Chicago is a non-profit organization comprised of senior executives from the Chicago region's leading corporations, professional firms and universities. The mission of the Civic Committee is to improve the economic and social well being of the Chicago region.