Economist Doubts Lawmakers' Grasp of Budget Mess
CHICAGO (AP) -- A University of Illinois economist says he's not sure lawmakers understand the magnitude of the state's budget crisis.

Professor Richard Dye is one of the authors of a new study by the University of Illinois Institute of Government and Public Affairs Fiscal Futures Project.

It concluded Illinois' finances are in such bad shape it will take a multipronged approach to fix it.

Dye says that means a mix of increasing revenue, cutting spending and reducing the state's nearly $100 billion unfunded pension liability.

Dye says the problem is serious and will require "very tough choices."

But he says it may just not be in lawmakers' interest to say how bad it is or to deal "different kinds of pain," such as cutting spending or raising taxes.
11 03 13 by Newsroom
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