Monday, February 25, 2013

ILL-inois: Watchdog predicts $22 billion in unpaid bills by 2018

ILL-nois is getting sicker, WBBM-AM reports.
The long list of people the state owes money to could nearly triple in five years, if lawmakers don’t get costs under control, according to a local budget watchdog group.

WBBM Newsradio’s Nancy Harty reports an analysis by the Civic Federation found the state’s unpaid bills could balloon to $22 billion by 2018 if the General Assembly doesn't act to reduce pension and Medicaid costs.

"We are concerned, and we're quite worried that the state of Illinois is on a path to run up its unpaid bills to over $22 billion, and it's not going to be able to fund essential state services," said Civic Federation President Laurence Msall.

Even though lawmakers have made some reforms to the state’s Medicaid system, Msall they must trim more costs. He also said state lawmakers have yet to tackle the state's massive pension costs – amounting to more than $96 billion in unfunded pension liabilities.
Illinois' bicentennial will be in 2018. There will be nothing to celebrate.

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