The Illinois House overrode a veto by Governor Bruce Rauner of a spending plan that included a $6-billion increase in personal and business taxes.  This follows a veto override by the state Senate, which means that for the first time in more than two years, the state has a budget. Despite the congratulatory pats on the back by Democrats, the spending plan doesn't even come close to fixing the state's money problems.  There is still a $15-billion backlog of unpaid bills the state owes contractors and small businesses.  And at some point, the legislature is going to have to address the $250 billion in unfunded pension liabilities for public employee unions. Bond rating agencies say they could still make Illinois the first state to receive junk status for its bonds because no one is confident that the bitter partisanship that has marked the last two years in the legislature will be fixed anytime soon. Fox 2: Moody's said on Wednesday that it...(Read Full Post)