Click for St. Louis, Missouri Forecast

// a href = ./ // St Louis News, Weather, Sports, The Big 550 AM, St Louis Traffic, Breaking News in St Louis

 
 
 
Tuesday, 21 January 2014 02:22

Pension reform won't do much to curb IL debt

   A report being released Tuesday says Illinois' plan to save $160 billion ultimately won't make much of a dent in the state's growing deficits.  

   The University of Illinois' Institute for Government and Public Affairs study says changes to the state's major public pension systems will eliminate their unfunded liability over the next 25 years, but the state's deficit will increase to $13 billion during that time.  Institute researchers projected a $14 billion deficit - a $1 billion difference - if the state had not implemented pension reform.  

   Institute Director Chris Mooney says the study was released as campaigns for the 2014 general election begin to heat up in order to make sure the state's fiscal crisis is talked about.

Published in Local News
WASHINGTON (AP) — In spite of budget wrangling and finger-pointing by U.S. policymakers, the government's short-term fiscal picture isn't all that bad. It's actually getting better — at least for now.

Washington is borrowing about 25 cents for every dollar it spends, down from over 40 cents just a few years ago.

And the budget deficit is dropping to $845 billion after topping $1 trillion for four straight years. The Congressional Budget Office says the deficit will keep shrinking — to $430 billion by 2015.

That's the good news.

But without a fix, the government's finances will start to worsen again as the three major "entitlement" programs — Social Security, Medicare and Medicaid — become more and more expensive and unmanageable under the increasing weight of retiring baby boomers.
Published in National News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next
J&J LAUNCHES NEW CAP TO CURB TYLENOL OVERDOSES

J&J LAUNCHES NEW CAP TO CURB TYLENOL OVERDOSES

WASHINGTON (AP) -- Bottles of Tylenol sold in the U.S. will soon bear red warnings alerting users to the potentially fatal risks of taking too much of the popular pain reliever. Th...

EU: TEST SHOW NO SAFETY ISSUES WITH HORSEMEAT

EU: TEST SHOW NO SAFETY ISSUES WITH HORSEMEAT

BRUSSELS (AP) -- The European Union says more than 7,000 tests across the 27-nation bloc on products labeled as beef show that nearly 5 percent of them contained horse meat. The...

DOCTORS HOPE FOR CURE IN A 2ND BABY BORN WITH HIV

DOCTORS HOPE FOR CURE IN A 2ND BABY BORN WITH HIV

A second baby born with the AIDS virus may have had her infection put into remission and possibly cured by very early treatment - in this instance, four hours after birth. D...

Online health insurance exchanges now open

Online health insurance exchanges now open

   The online health insurance exchanges are now open in both Missouri and Illinois.  The online marketplace is a key component of the federal health care law.      Illinois offic...

BRAIN SAMPLES STOLEN FROM INDIANA MEDICAL MUSEUM

INDIANAPOLIS (AP) -- A man who allegedly stole human brain samples from a medical history museum was arrested after a California man who bought some of the tissue online alerted...

STUDIES TAKE EARLY LOOK AT HEALTH LAW'S PREMIUMS

STUDIES TAKE EARLY LOOK AT HEALTH LAW'S PREMIUMS

WASHINGTON (AP) -- Coverage under President Barack Obama's health care law won't be cheap, but cost-conscious consumers hunting for lower premiums will have plenty of options, acco...

A SECOND WIND FOR HEALTH LAW? OR JUST HOT AIR?

A SECOND WIND FOR HEALTH LAW? OR JUST HOT AIR?

WASHINGTON (AP) -- Whether you love it or hate it or are just plain confused by it, you've got to give the health care law this much: There's plenty of drama. The nail bitin...

DECONTAMINATING PATIENTS CUTS HOSPITAL INFECTIONS

DECONTAMINATING PATIENTS CUTS HOSPITAL INFECTIONS

CHICAGO (AP) -- Infections in U.S. hospitals kill tens of thousands of people each year, and many institutions fight back by screening new patients to see if they carry a dangerous...

© 2013 KTRS All Rights Reserved