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Illinois lawmakers adjourn without pensions fix

 
Anonymous Coward
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01/08/2013 09:12 PM
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Illinois lawmakers adjourn without pensions fix
Years of inattention by lawmakers and governors to properly fund five state-run pension accounts has led to $96 billion in red ink. Quinn has pushed the matter to crisis proportions since summer, setting Wednesday as the deadline for a deal.

The Democrat says the gaping hole widens by $17 million a day and to catch up, the state's obligation - $6 billion this year - will soon eclipse one-third of the total amount of revenue the state takes into its general checking account each year, eating up more and more of the money available for schools, health care and public safety.

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