Government Budgets

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State Budget Gaps: Debt Holes Deepen

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…

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State must lead way if communities are to regain financial stability

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…

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Our View: State shouldn’t steal from future to pay for pensions

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.

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Costs mount as state wallows in fiscal misery

This editorial about the State of Illinois’ fiscal woes discusses findings in the Civic Federation’s “Cost of the Crisis” report.

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Connected to Chicago – Civic Federation President Laurence Msall

Bill Cameron interviews Civic Federation President Laurence Msall about findings in the Federation’s “Cost of the Crisis” report.

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Cost-Cutting Proposals on Tap for MWRD – Part II

Last week the Civic Federation blogged about the Metropolitan Water Reclamation District’s reaction to its estimated $24 million…

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Failed leadership sticks the public with a huge bill

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.

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$551 million. Poof!

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.

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Watchdog: Big Bill in Illinois’ Cards

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 “…

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Poor bond rating painful for Ill. Pocketbooks

This news article discusses the Civic Federation’s “Cost of the Crisis” report and the long-…