Emanuel Says He's Cut Budget Shortfall In HalfAs he prepares to unveil his preliminary 2013 budget today, Mayor Rahm Emanuel says he's managed to cut the projected deficit in half.
Civic Federation: State Could End Up With $35M In Unpaid BillsAhead of Gov. Pat Quinn's state of the state address this Wednesday and his budget address next month, a tax watchdog group is sounding the alarm about Illinois' looming financial disaster.
No CTA Fare Hike, Despite $277 Million DeficitThe CTA won't increase fares or cut service in the coming year -- if its unions agree to $160 million or more in work rule changes.
Emanuel: City Can't Afford Old Ways Of Doing Business“We can start shaping our city’s future or let it shape us,” Mayor Rahm Emanuel said as he unveiled a budget that will close three police stations, double water rates, and raise several other fees.
5 House Members From Illinois Vote 'No' On Debt-Ceiling CompromiseFive members of the Illinois Congressional Delegation voted against the debt-ceiling authorization Monday – in some cases, for radically different reasons.
Emanuel: Chicago Is Running A $635.7 Million DeficitMayor Rahm Emanuel said Friday the city is facing a $635.7 million shortfall for its budget next year, and it is time to address the city’s structural deficit.
Schakowsky: Cuts Are Possible, Default UnlikelyU.S. Rep. Jan Schakowsky (D-Ill.) is predicting there will be no government default on its bill, and that the debt ceiling will be lifted in return for some cuts.
Partisan Debt Standoff Spills Over Onto County BoardWhile the standoff between Democrats and Republicans continues in Washington over the debt ceiling and spending cuts, the partisan rhetoric is spilling over into local governmental debates as well.
Meeting Planned On Possible Special Legislative SessionA meeting is planned for Wednesday between Gov. Pat Quinn and House Speaker Michael Madigan to discuss calling lawmakers back for a special session.
Illinois U.S. Senators Square Off On Debt LimitThe U.S. Treasurer says the United States could default on its loans if congress doesn’t act soon to raise the country’s debt limit, and both Illinois U.S. senators are weighing in on the issue.
Topinka: State Can't Keep BorrowingCritics say the State of Illinois is robbing Peter to pay Paul in its plans to borrow money to balance the state budget, and now, Comptroller Judy Baar Topinka is calling for major changes.