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9/24/2012



A closer look at the state's FY2012 budget is prompting new questions about whether Illinois could seek a federal bailout on pensions. The debate concerns a line in the FY2012 budget proposal that says "significant long-term improvements will come only from additional pension reforms, refinancing the liability and seeking a federal guarantee of the debt." 

Some suggest Illinois' mounting pension debt could make the state a prime candidate for a bailout. Critics, however, say other states should not have to chip in. Governor Quinn's office was not available for comment, but has reportedly said Illinois does not plan to turn to Washington to fix pensions.

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