Illinois Must Solve Its Own Pension Problems

The state of Illinois is in deep trouble financially. Last week, Standard & Poor's Ratings Services once again downgraded Illinois' credit rating. It is now the worst in the country. This latest downgrade came shortly after Gov. Pat Quinn and state lawmakers failed to fix the Illinois pension system, which is $96.8 billion in the red. Illinois public employee unions fiercely opposed the pension reform efforts, and they once again carried the day in Springfield.

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