Governors and legislatures are wise to be cautious about taking actions that could damage the economy. Inaction in Illinois, however, is having the same effect. As Governor Quinn prepares for his annual budget address on March 6, he will have to face the increased costs from his inaction--and that of his party--on implementing reforms in the FY2013 budget and passing pension reforms.
Information from the House Revenue and Finance Committee points to over $1 billion of increased costs in this budget year due to the failure of the Governor to implement reforms directed by the legislature. Add another $1 billion in projected spending due to the failure to pass pension reform.