A report from the Chicago-based Civic Federation predicts that Illinois' backlog of unpaid bills will reach nearly $22 billion within five years without legislative action to hold down pension costs.
The Civic Federation's analysis was released Monday. The watchdog group notes some improvement since last year when it was forecasting a $35 billion backlog in overdue bills. The improved outlook is largely because of $1.6 billion in Medicaid cuts Gov. Pat Quinn signed into law last year.
Civic Federation President Laurence Msall says Illinois lawmakers need to restructure its pension systems because they are keeping the state in what he calls "its fiscal downspin."
The report says the state's backlog of unpaid bills is expected to grow to $21.7 billion in 2018 from $7.8 billion this year.
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Saturday, May 25 2013 10:50 AM EDT2013-05-25 14:50:09 GMT
The tornado that struck Oklahoma on Monday took a devastating toll in the number of lives lost and property destroyed. But amidst the anguish and destruction there is another heart-wrenching tragedy.
The tornado that struck Oklahoma on Monday took a devastating toll in the number of lives lost and property destroyed. But amidst the anguish and destruction there is another "heart-wrenching" tragedy -- displaced pets.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Britain is bracing for clashes with right-wing extremists and possible copycat terror attacks after the slaying of a young soldier, adding some 1,200 police to potential trouble spots.
Both of the suspects accused of butchering a British soldier during broad daylight on a London street had long been on the radar of Britain's domestic spy agency, though investigators say it would have been nearly...
Friday, May 24 2013 9:32 AM EDT2013-05-24 13:32:16 GMT
Some aldermen have questions as a City Council committee gets ready to hold a hearing on Mayor Emanuel's proposed changes to the Chicago parking meter deal.
Some aldermen have questions as a City Council committee gets ready to hold a hearing on Mayor Emanuel's proposed changes to the Chicago parking meter deal.
Former Chicago Bears lineman and FOX contributor Dan Jiggetts is an advocate for preventing the sale of high capacity ammunition magazines in Illinois. He's also working on Rocky's Law with Governor Quinn.
Former Chicago Bears lineman and FOX contributor Dan Jiggetts is an advocate for preventing the sale of high capacity ammunition magazines in Illinois. He's also working on Rocky's Law with Governor Quinn.
Amid lingering concerns about his national security policies, President Barack Obama is outlining measures to clarify the deadly use of drones against terror suspects.
President Barack Obama sought Thursday to advance the U.S. beyond the unrelenting war effort of the past dozen years, defining a narrower terror threat from smaller networks and homegrown extremists rather than the grandiose...
Thursday, May 23 2013 4:36 PM EDT2013-05-23 20:36:47 GMT
The Obama administration has picked a private attorney and former federal prosecutor to head the U.S. attorney's office in Chicago, U.S. Sen. Dick Durbin announced Thursday.
The Obama administration has picked a private attorney and former federal prosecutor to head the U.S. attorney's office in Chicago, U.S. Sen. Dick Durbin announced Thursday.
Thursday, May 23 2013 2:18 PM EDT2013-05-23 18:18:06 GMT
Illinois legislation allowing public possession of concealed guns has passed the House Judiciary Committee. It was a compromise backed by Speaker Michael Madigan.
Illinois legislation allowing public possession of concealed guns has passed the House Judiciary Committee. It was a compromise backed by Speaker Michael Madigan.
Saturday, May 25 2013 11:04 AM EDT2013-05-25 15:04:24 GMT
City residents sick of coupons piling up on their front doorsteps filed a civil lawsuit earlier this month urging the Chicago Tribune and Valassis Communications to stop distributing the mailings.
City residents sick of coupons piling up on their front doorsteps filed a civil lawsuit earlier this month urging the Chicago Tribune and Valassis Communications to stop distributing the mailings on their properties.
Friday, May 24 2013 12:58 PM EDT2013-05-24 16:58:00 GMT
CTA Ventra payment card holders who use the card's controversial debit features won't be charged for talking to public transit customer service operators or using the cards for cash ATM withdrawals.
CTA Ventra payment card holders who use the card's controversial debit features won't be charged for talking to public transit customer service operators or using the cards for cash ATM withdrawals.
Friday, May 24 2013 9:32 AM EDT2013-05-24 13:32:16 GMT
Some aldermen have questions as a City Council committee gets ready to hold a hearing on Mayor Emanuel's proposed changes to the Chicago parking meter deal.
Some aldermen have questions as a City Council committee gets ready to hold a hearing on Mayor Emanuel's proposed changes to the Chicago parking meter deal.
Thursday, May 23 2013 10:40 PM EDT2013-05-24 02:40:45 GMT
Things are going to be very busy at Chicago's O'Hare International Airport this weekend. Many travelers will also hit the roads for Memorial Day, and they'll pay the price at the pump.
Things are going to be very busy at Chicago's O'Hare International Airport this weekend. Many travelers will also hit the roads for Memorial Day, and they'll pay the price at the pump.
Former Groupon exec Jayna Cooke founded Closet Angels, a new organization that sells donated designer clothing and all the proceeds benefit St. Jude Children's Research Hospital.
Former Groupon exec Jayna Cooke founded Closet Angels, a new organization that sells donated designer clothing and all the proceeds benefit St. Jude Children's Research Hospital.
FOX Business Network's Jo Ling Kent shared advice about a phishing scam traversing Twitter right now, that could be sitting in your direct message inbox. If you don't know where a link will lead you, don't click on it!
FOX Business Network's Jo Ling Kent shared advice about a phishing scam traversing Twitter right now, that could be sitting in your direct message inbox. If you don't know where a link will lead you, don't click on it!
Mommy beta blogger and home & family technology expert Natali Morris shared some quick tips to save cash on household costs this summer, like using a land line, smart appliances and cloth diapers.
Mommy beta blogger and home & family technology expert Natali Morris shared some quick tips to save cash on household costs this summer, like using a land line, smart appliances and cloth diapers.
David's Tea teamed up one of Chicago's hottest artisinal cocktail lounges, Chicago's Violet Hour, to create a new line of summer drinks! Lisa Tipton and Tyler Fry joined Good Day Chicago to explain.
David's Tea teamed up one of Chicago's hottest artisinal cocktail lounges, Chicago's Violet Hour, to create a new line of summer drinks! Lisa Tipton and Tyler Fry joined Good Day Chicago to explain.
Wednesday, May 22 2013 8:53 AM EDT2013-05-22 12:53:15 GMT
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
