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.