DECATUR-- More bad news is on the way for Illinois’ in terms of fiscal responsibility. The State Budget Crisis Task Force examines long term fiscal sustainability in 6 U.S. states, including Illinois and it shows that the pensions in the state are on a road to insolvency unless the state fixes things quickly.
State Rep. Bill Mitchell says he believes lawmakers saying no to ‘Obama-care’ is a step in the right direction…
“One of the things that we can do this fall when we go back to Springfield is to say no we are not going to expand Obama-care here in Illinois."
Mitchell also adds that it would increase the amount of people needing public assistance, thus raising costs that Illinois cannot afford to cover.
"It will add possibly 500,000 more people to the public assistance roll and will cost, according to the comptroller, almost $2.4 billion in additional spending that the state of Illinois cannot afford. This report says we’re in a financial hole, and we know that, but we can take concrete steps to get out of it.”
The study found that Illinois pensions are the worst funded in the nation.
In addition to the pension report, the Task Force also says that Illinois may have a jobless rate at 6% or more through 2019.