Illinois state lawmakers introduce, pass $85 billion in spending in 12 hours
A new governor and Democratic supermajorities have retained the same chaotic budgeting process that has brought the state’s credit rating to near-junk status.
Pension apocalypse? COVID-19 exposes long-running fragility of Illinois public pensions
Illinois’ pension crisis has been a growing problem for decades, and its negative effects on state residents are well documented.1 Economic fallout from the COVID-19 pandemic and related government shutdown orders threaten to bring that long-running crisis closer to its breaking point. The state’s five pension systems collectively held nearly $139 billion of debt at...
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