State's Unpaid Bills To Skyrocket Without Pension SolutionCHICAGO (AP) - A report from the Chicago-based Civic Federation predicts that Illinois' backlog of unpaid bills will reach nearly $22 billion within five years without legislative action to hold down pension costs.
The Civic Federation's analysis was released Monday. The watchdog group notes some improvement since last year when it was forecasting a $35 billion backlog in overdue bills. The improved outlook is largely because of $1.6 billion in Medicaid cuts Gov. Pat Quinn signed into law last year.
Civic Federation President Laurence Msall says Illinois lawmakers need to restructure its pension systems because they are keeping the state in what he calls "its fiscal downspin." The report says the state's backlog of unpaid bills is expected to grow to $21.7 billion in 2018 from $7.8 billion this year.
More information is available on line at: http://www.civicfed.org/iifs/publications/IllinoisRoadmapFY2014
See other LocalNews news:Three Sentenced to Prison In Marion County Court
Four Face New Felony Charges Following Memorial Day Weekend Arrests
Illinois Bill Penalizes for Leaving Pets in Extreme Weather
Police: Child Run Over, Killed by Vehicle Grandparent Drove
2 Tornadoes Touch Down in Illinois Causing Minor Damage