Quinn: Pension problem is Illinois' 'fiscal cliff'


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Originally Posted Online: Dec. 10, 2012, 1:18 pm
Last Updated: Dec. 10, 2012, 2:20 pm
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CHICAGO (AP) — Gov. Pat Quinn says the pension crisis is Illinois' own fiscal cliff.

The Chicago Democrat spoke to reporters Monday during a breakfast event at Bloomberg's Chicago office.

He's set a Jan. 9 deadline to overhaul the pension system, which is underfunded by an estimated $96 billion. On that day, new lawmakers will be sworn in after a lame duck session in Springfield.

Quinn has spent much of this year talking about reforming the pension system and proposed rough ideas to address it. He also launched a social media campaign to rally the public.

But he's also faced criticism for not being aggressive enough or fully backing a singular plan.

Last week, lawmakers frustrated by inaction came up with their own proposal on pensions. Quinn calls it "intriguing" and a start.














 




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  Today is Tuesday, Sept 2, the 245th day of 2014. There are 120 days left in the year.

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1889 — 125 years ago: Alderman Frank Ill, Winslow Howard and Captain J.M. Montgomery returned from Milwaukee, where they attended the national Grand Army of the Republic encampment.
1914 — 100 years ago: Three members of the Rock Island YMCA accepted positions as physical directors of other associations. Albert Cook went to Kewanee, C.D. Curtis to Canton and Willis Woods to Leavenworth, Kan.
1939 — 75 years ago: Former President Herbert Hoover appealed for national support of President F.D. Roosevelt and Congress in every effort to keep the United States out of war.
1964 — 50 years ago: The Rock Island Junior chamber pf Commerce has received answers to about 65 % of the 600 questionnaires mailed out recently in a "Community Attitude Survey" to analyze sentiments of citizens towards their city's various recreational, educational, and civic service programs.
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