This news segment is about how some states are coping with severe budgetary troubles in the current recessed economy. In a discussion of the State of Illinois, Civic Federation President Laurence Msall says Illinois’ fiscal troubles are not just the result of the bad economy, but also the State’s inability to produce a balanced budget and reduce its spending in the face of revenue declines. Mr.…
This opinion piece explores the effect that the State of Illinois’ fiscal crisis is having on the community of Oak Park. The Civic Federation says the State’s problems are likely to become worse and that deeper pension program reforms are needed.
In this editorial about how the State of Illinois should address its pension funding issues, the Civic Federation says that if the State borrows more money, it risks further downgrades to its bond ratings and higher interest rates.
This editorial about the State of Illinois’ fiscal woes discusses findings in the Civic Federation’s “Cost of the Crisis” report.
Bill Cameron interviews Civic Federation President Laurence Msall about findings in the Federation’s “Cost of the Crisis” report.
Last week the Civic Federation blogged about the Metropolitan Water Reclamation District’s reaction to its estimated $24 million budget deficit. Specifically, we outlined Executive Director Richard Lanyon’s proposals to reduce this deficit, in part, by making changes to employee and retiree health benefits. Mr. Lanyon presented his cost-cutting plan to the Board and public at an August…
This editorial discusses the $551.3 million in additional borrowing charges that will be paid by State of Illinois taxpayers due to the State’s declining credit ratings.
This editorial puts into perspective the $551.3 million in extra debt service costs that Illinois taxpayers will pay due to recent downgrades to the State of Illinois’ credit ratings.
This article explores the effect that recent downgrades to the State of Illinois’ bond ratings will have on the State’s future debt service costs, as detailed in the Civic Federation’s “Cost of the Crisis” report.
This news article discusses the Civic Federation’s “Cost of the Crisis” report and the long-term effects of the State of Illinois’ borrowing.
