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Study Predicts Pension Bill Won’t Ease Deficit

Study Predicts Pension Bill Won’t Ease Deficit

A report released today 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 purposely as campaigns for the 2014 general election begin to heat up. Mooney says he wants to make sure the state’s fiscal crisis is talked about and that people “don’t get complacent.”

 

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Today in entertainment history: Nov. 24

FILE- This is a 1967 handout image from Parlophone of The British group, The Beatles,. From left, are: Ringo Starr, John Lennon, Paul McCartney; and George Harrison. The woman who as a child was the basis for the Beatles song "Lucy in the Sky with Diamonds" is gravely ill. It was thought by many at the time that the psychedelic song from Sgt. Pepper's Lonely Heart Club Band was a paean to LSD because of the initials in the title, but it was actually based on a drawing that John Lennon's young son Julian brought home from school. He told his father the drawing was of Lucy in the sky with diamonds. Lucy Vodden, now living in Surrey just outside of London _ drifted apart after schoolyard days, but they have gotten back in touch as Lennon has tried to help Vodden cope with Lupus, a life-threatening disease.

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