Governor Quinn says if lawmakers don't address the pension crisis, Illinois will go over a fiscal cliff of its own. He wants lawmakers to pass a comprehensive reform plan by next Wednesday but it appears that there's no deal on the table. The Senate briefly addressed the issue yesterday when a committee voted to change the effective date on a bill it passed back in May. The state has a total unfunded pension liability of 96-billion dollars, and that goes up by 17-million bucks each day. The liability has led to several credit downgrades and according to Quinn, it takes money away from vital services like education and public safety.
(Posted 1/3/2013 at 6:19am, Metro Networks)