Civic Committee Statewide Public
Awareness Campaign
Since the inception of its State Finance Task Force
in 2006, the Civic Committee has warned that the State of Illinois is
headed for financial implosion. However, the State has not
addressed its fiscal problems over the past few years. Instead it
has borrowed increasing amounts to pay its bills and has pushed off its
current obligations to future generations.The State of Illinois now
hangs on a financial precipice, with about $130 billion in unfunded
retiree-related liabilities and a growing annual structural deficit
which is approaching $15 billion.
The behaviors that have gotten the State into this
fiscal mess must stop. Continued borrowing to cover current costs
will severely undermine the future of our State, our citizens and the
companies that employ them. During this election season, the Civic
Committee has launched a statewide public awareness campaign that will
extend through the general election. The campaign will seek to
educate the public about the State’s fiscal crisis and make the State’s
financial situation the focus of the electorate.
As part of this campaign, we have created 4 videos
that describe the State's financial crisis and the Civic Committee's
engagement with this issue. These videos can be accessed below or
on our new IllinoisIsBroke.com
website.
The links below provide more information on the State’s
financial crisis and the different components of the Civic
Committee’s public awareness campaign.
One of the key elements of the campaign is our
proposal to reform pension benefits for current State employees
prospectively – protecting all rights that have already been earned. A
legal analysis from Sidley Austin LLP is provided below which concludes
that the pension clause of the Illinois Constitution does not preclude
prospective changes in pension plans for current employees of the State
or other members of State and municipal pension plans. Another analysis
shows that the State is not the guarantor of pension benefits if the
pension funds run out of money.
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