Comparing one of the three Illinois State Budget Crisis topics Essay

Comparing one of the three Illinois State Budget Crisis topics (pensions, state borrowing and infrastructure) with the same issue in other jurisdictions (US or non-US) - Essay Example The Governor’s proposal to reduce the states spending could lessen the impacts of the financial mess. However, the move would in the future raise cost of living adjustments for workers, rose retirement age and reduced pensions for higher salaried citizens. Budget documents had previously in 2011 projected 1100 layoffs in a proposal to reduce state spending and, consequently, close particular state offices (Yaccino, 2012). The move to cut pension benefits implied a violation of the constitution that formed the umbrella of workers protecting them against the grim consequences of such changes. The article critically analyzes the Illinois State Budget Crisis as published as published by the New York Times editors. The paper compares the crisis to Canadian jurisdictions and applies the methods Canadian state previously utilized to contain a predicament of a similar nature. The essay will offer an integrated approach t the topic of study. The state’s financial crisis made the workers become uncertain about their retirements while at the same time straining the state’s budget and sinking credit ratings. Political leaders agreed to solve the financial shortfalls by cutting the pension benefits. The union and state workers celebrated the court ruling (Davey, 2015). However, critics viewed the ruling as capable of escalating the state’s financial challenges. The State Representative Elaine Nekritz, a Democrat, defined the extent of the challenge as more difficult and painful. The Democrat officials previously held numerous debates with the unions for several years while discussing a way forward to solve the state’s issue. The unions, however, opposed the proposals to cut the pension benefits. The officials, surprisingly, argued that in the essence of the state’s economic situation, they would pass into law the bill that proposes a cut in the pension benefits. The reporter notes that the state experienced a pension finance deficit