Government Budgets

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State paying for its low rating

The Civic Federation’s “Cost of the Crisis” report is the focus of this article. The Federation says that because of the State of Illinois’ declining bond ratings, taxpayers may have to pay an additional $551.3 million in extra borrowing…

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Lower credit rating costs Illinois extra half-billion in borrowing expenses

In this blog post, Greg Hinz examines the Civic Federation’s “Cost of the Crisis” report that…

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Being broke costs state $550 million

This news article discusses the Civic Federation’s “Cost of the Crisis” report. The article…

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President of the Civic Federation Laurence Msall joins Don Wade and Roma

Don Wade and Roma interview Civic Federation President Laurence Msall about the Civic Federation’s “

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Illinois Charged an Extra $551 Million in Borrowing Costs Over the Last 12 Months

(CHICAGO) The Civic Federation released today a comparative analysis of the cost of the $9.6 billion in bonds the State of Illinois issued between September 2009 and July 2010. The report estimated that Illinois government may pay as much…

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Cost of the Crisis: An Analysis of the Additional Bond Costs Paid by the State of Illinois Due to the State’s Ongoing Fiscal Crisis

This issue brief provides a comparative analysis of the cost of the $9.6 billion in bonds the State of Illinois issued between September 2009 and July 2010. The report estimates that Illinois government may pay as much as $551.3 million…

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FOX Chicago Sunday: Laurence Msall

In a discussion on the Fox Chicago Sunday news program about the City of Chicago’s budget shortfall, Civic Federation President Laurence Msall discusses the effect that privatization of some City services may have on closing the gap.

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Illinois' Build America Bond Subsidy Could Face Offset Risk

A recent report shows that nearly all the bond subsidies promised under the Build America Bond (BAB) program are being paid by the federal government to issuers applying for the credit without significant administrative delay. The BAB…

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Civic group gives CPS budget cool OK

This article explores findings in the Civic Federation’s analysis of Chicago Public Schools’ $6.5 billion FY2011 proposed budget. It notes the Federation’s opposition to the District’s plans to deplete its reserve funds and take a partial…

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CPS Budget Plan Receives a Grim Warning

In this news segment, Civic Federation President Laurence Msall explains the Civic Federation’s analysis of Chicago Public Schools’ FY2011 proposed budget.