Illinois budget FY2018

Digging a hole. A really deep hole.
David Stillman / Flickr.com/stilldavid (CC-BY-NC)

Gov. Bruce Rauner will make his annual budget address to the Illinois General Assembly this Wednesday. It comes as state government has gone more than 19 months without a real budget.

That’s led the financial experts at credit rating agencies to issue a series of downgrades and dire assessments. The latest is called "For Illinois, Having a Plan Beats No Plan." It comes from S&P Global Ratings, where Gabriel Petek analyzes state governments.

Republican Leadership
Amanda Vinicky / NPR Illinois | 91.9 UIS

Illinois hasn't had a true state budget for a year and five months. Even so, there's some talk of trying to work ahead on a spending plan for the future.

Talk to a university president. The head of a homeless shelter, rape crisis hotline, or other organization that depends on state funding. Even the director of a state agency.

They'll all tell you that one of the most difficult parts of going without a budget for so long, is that it's created tremendous uncertainty.

pile of $20 bills
D Borman / flickr

Illinois' already strained bank account will be stretched by another $4.6 billion because of action taken by the state government's largest pension fund.

IGPA

The ongoing budget debacle that’s hobbled Illinois government was front and center Wednesday in Springfield.

npr.org

It's a rare occurrence of late: A credit rating agency saying something positive about Illinois' finances. But the comment published Tuesday by Moody's Investor Service was tempered.

Illinois could end up having to put an additional half billion dollars into one of its pension funds next year.

As the name suggests, the Teachers Retirement System is the retirement benefits fund for all Illinois public school teachers outside of Chicago.

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