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Financial Crises December 21, 2015

Illinois Legislature approves historic fix for $100B pension crisis

The House voted 62-53 in favor of the plan, sending it to Gov. Pat Quinn, who has said he will sign it. 

Financial Crises December 21, 2015

Ruling in Detroit bankruptcy case expected Tuesday

A judge was expected to announce Tuesday whether Detroit can come up with a plan to get rid of $18 billion in debt in the largest public bankruptcy in U.S. history, a case that ultimately could crack a shield protecting public pensions and also put the city's extraordinary art collection up for grabs.

Financial Crises December 21, 2015

Plan to fix Illinois pension problem heads to House, Senate

The Associated Press confirmed with six members of the 10-member panel that they had signed the measure Monday after arriving in Springfield for a special session.

Financial Crises December 21, 2015

In states' latest battle with organized labor, Illinois public unions target Democratic lawmakers

The latest battle between organized labor and states trying to fix huge budget problems by cutting pension costs has resurfaced in Illinois, where public union leaders are waging an all-out effort to stop the Democrat-led campaign.

Financial Crises December 21, 2015

Citizens take law into own hands after cash-strapped Ore. county guts sheriff's office

When budget woes reduced the sheriff's department in one rural Oregon county to a bare-bones force, residents decided to take matters into their own hands.

Financial Crises December 21, 2015

Illinois pension battle could create deeper fiscal hole

With the fight over solving Illinois' worst-in-the-nation pension shortfall now headed to the courts, the financially troubled state faces a grim possibility: The plan could be tossed, and Illinois could wind up in an even deeper fiscal hole than the one it's in now.

Financial Crises December 21, 2015

Restoration road map: How Kansas’ Capitol project doubled in cost

About a month and a half from now, state officials will be swapping smiles, handshakes and grandiose praise beneath the shiny new gleam of the Kansas Capitol’s newly copper-clad dome. But there’s likely to be one fact that doesn’t get much play when state lawmakers celebrate the conclusion of Kansas’ epic restoration of the Capitol building: The price tag.

STATE AND LOCAL December 20, 2015

Arizona returning to gold rush roots with bill making gold legal tender

The GOP-led Senate gave final approval Tuesday to the bill that could make Arizona the second state in the nation to recognize gold and silver as legal tender. 

Financial Crises December 20, 2015

Detroit bankruptcy trial begins Wednesday

The city of Detroit for months has disclosed the awful condition of its finances. Now it's up to a judge to determine if the largest public bankruptcy in U.S. history really can go forward.

States Rights December 20, 2015

Vets march on Washington, roll into WWII memorial, protest outside White House

Veterans marched on Sunday in Washington in protest of the partial government shutdown that has kept them and other Americans from visiting war memorials across the country, with support from several star conservatives.

Financial Crises December 20, 2015

Statue of Liberty reopens after New York state agrees to take over daily costs

Lady Liberty was once again welcoming visitors to her shores Sunday after the state agreed to shoulder the costs of running the famed statue during the federal government shutdown.