published Jun 1st 2016, 9:36 am, by Elizabeth Campbell (Bloomberg) — Illinois’s leaders failed to end the state’s worst budget impasse on record, deepening the fiscal turmoil in the Land of Lincoln as unpaid bills may swell to $10 billion, schools risk not opening on time, and prisons fall in

published May 30th 2016, 5:48 pm, by Elizabeth Campbell (Bloomberg) —Illinois lawmakers overrode Governor Bruce Rauner’s veto of a law that gives Chicago a partial break on its pension payments to police and fire retirement funds. The House followed the Senate’s vote Monday to nix the veto. Rauner, a first-term

©2015 Bloomberg News NZT9XL6KLVR9 (Bloomberg) — As 2015 draws to a close, Illinois marks half a year without a budget. No spending plan has driven up borrowing costs, sunk its credit rating, and perhaps worst of all, exacerbated the state’s biggest problem: its underfunded pensions. Home to the least-funded state