Politicians in Illinois continue to bicker as state careens toward fiscal disaster

Illinois GOP Governor Bruce Rauner called the legislature back into special session this week, hoping to get a deal with the Democrats to avoid the prospect of another year without a state budget. The fiscal year ends on June 30, and without a budget agreement for the third straight year, the state faces a fiscal calamity as bond rating agencies have indicated they will lower Illinois' bond rating - already the lowest of any state in the nation - to junk status. Court orders forcing the state to spend money on schools and some social services, as well as paying state employees and making pension contributions, will drain the treasury dry of funds, leaving the prospect of tens of thousands of layoffs and hundreds of thousands of the poor and indigent without critical services. And yet...the two sides can't even agree on when they should meet. Chicago Tribune: Such last-minute attempts to cut a deal are normally marked by hours of closed-door meetings between...(Read Full Post)