July 1, 2010

The Continuing Crisis

Editor’s Note: “The Continuing Crisis” is a section of APAC News which links to news pertinent to the state budget crisis as it affects the University and Academic Professionals.

ACADEMIC PROFESSIONALS getting a “hard look” from University administration, according to the June 23 Springfield News-Gazette. See http://www.news-gazette.com/news/politics-and-government/2010-06-23/culture-change-ui-administration-services-could-save-tens-mi.

ILLINOIS POLICY Institute attacks our pay again. See http://progressillinois.com/posts/content/2010/06/03/myth-state-worker-wealth-class-lives.

THE CHICAGO Sun-Times on June 14 called for the State to borrow money to meet its pension obligations. See http://www.suntimes.com/news/commentary/2388912,CST-EDT-edit14a.article.

THE STATE may owe the University $700 million by the end of the year, which could threaten the University’s “entire financial underpinning,” Stanley Ikenberry said in June. See http://www.dailyherald.com/story/?id=387895&src=109.

THE COST of insuring Illinois' debt has risen to levels higher than any state in the union -- and even some troubled European nations -- according to data provider CMA DataVision. See http://www.businessweek.com/news/2010-06-17/illinois-debt-default-insurance-climbs-to-record-high-update1-.html.

THE CHICAGO Sun-Times on June 23 criticized the Civic Committee of the Commercial Club of Chicago for referring to our pensions as “Cadillac” pension plans. See http://www.suntimes.com/news/commentary/2422314,CST-EDT-edit23sub.article.

US HOUSE Republican Leader John Boehner said on June 29 that the Social Security retirement age should be raised to 70 and benefits should be limited. See http://www.upi.com/Top_News/US/2010/06/29/Boehner-Raise-Social-Security-age/UPI-30841277855018/.

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