The U.S. Government faces some major budget challenges. President Obama unveiled his fiscal year 2012 budget today and will present it to Congress.

Illinois lawmakers are proposing legislation that would create new state agencies and give out tax credits to certain groups.

During the recession, American households have reduced their spending, paid down their debt, and increased their savings. Sadly, Government has not followed their example.

A number of business owners in Springfield have expressed grave concern over the tax hike, according to the State-Journal Register.

Last year the University of Illinois at Urbana-Champaign paid buyouts to 133 senior professors. The buyouts were offered to professors to retire early with a payment equivalent to half a year’s salary.

by Wesley Fox Over the last two years, many states have faced large budget shortfalls due to declines in revenue and continued spending at unaffordable rates. Some have dramatically cutback spending to balance their budgets, while others have raised taxes. The CATO Institute’s Fiscal Policy Report Card provides an excellent assessment of the responses of U.S. governors...

by Wesley Fox According to the Chicago Tribune, the Illinois Department of Corrections is $95 million behind on its bills.  Many prison vendors have not been paid in months. Some have stopped extending credit to correction centers, and two havestopped doing business with the Department of Corrections altogether.  If Illinois does not start paying its bills on time, more...