With sequester cuts and furloughs beginning to roll out this week, some are wondering if Illinois is being hit harder than other states. There's the $33.4 million cut to education spending, the $6.4 million hit to clean water initiatives, the 14,000 furloughed defense jobs, and the list goes on. Marilyn Geewax, a senior business at NPR in Washington, joins us to discuss the cuts, and the next big financial crisis on Capital Hill - the dreaded continuing resolution.
The Afternoon Magazine
Earlier this week, we looked at the political situation around the sequester. Now, the economic impact. While some legislators say the automatic budget cuts won't be as bad as the President is suggesting, economist Elizabeth Powers warns they might be worse than expected. She joined us to discuss how the sequester will impact Illinois.
Is the federal government really going to let $85-billion in budget cuts take hold at the end of this week? Lynn Sweet, the Chicago Sun-Times Washington bureau chief, has been monitoring the sequester debate, and gives us an update.
Last week, Illinois' bond rating was reduced again by several credit agencies, making it the lowest rated state in the union. What can be done about the state's pension issue? State Treasurer Dan Rutherford and economics professor Jefferey Brown of the University of Illinois talk us through it.
Sanford Hess, Owner, Art Theater, Champaign
Ben Galewsky, Chairman, Common Ground Co-op
Illinois Public Media's Craig Cohen talks with Sanford Hess and Ben Galewsky about efforts to establish a community co-op, to share ownership and provide the capital needed to purchase digital projection equipment for Champaign's Art Theater. This interview was recorded on May 17, 2012.
My Formula for 14 Years of Average Annual Double Digit Growth, Restoring The Harlem Globetrotters, and Changing Business Perceptions Along the Way
Mannie Jackson, President of Boxcar Holdings LLC; Chairman of the Board of Trustees of the Naismith Memorial Basketball of Fame; Chairman of the Board and Owner of the Harlem Globetrotters;and Chairman and a Founder of the Executive Leadership Council.
Kathy Sweedler, Extension Educator, Consumer Economics Champaign/Ford/Iroquois/Vermilion Unit, University of Illinois Extension
With Barbara Rosewicz (Director of Research and Information for the Pew Center on the States)
With David M. Walker (President and CEO of the Peter G. Peterson Foundation; seventh Comptroller General of the United States; CEO of the U.S. Government Accountability Office from 1998 to 2008)
With Janet Poppendieck, Ph.D. (Professor of Sociology, Hunter College, City University of New York)