Can you make the right decisions to solve Illinois’ chronic financial woes?

CHICAGO - April 22, 2013 - PRLog -- CHICAGO—Anyone who is concerned about Illinois’ fiscal health now has a front row seat to the state’s budgeting process from any computer and a few clicks of a mouse. Budget experts from two bi-partisan Chicago think tanks and Crain’s Chicago Business have developed the interactive online Illinois Budget Calculator (http://illinoisbudget.chicagobusiness.com) that puts the entire Illinois General Fund (GF)—which represents more than 50 percent of the state budget—in your virtual hands. The GF budget defines programs and services funded by the many taxes collected by the state.

“The status quo is no longer an option,” said Ralph Martire, executive director of the Center for Tax and Budget Accountability (CTBA). “For decades, Illinois’ flawed fiscal policy has prevented this state from making adequate investments in everything from education and infrastructure to protecting our environment and caring for individuals with disabilities. The only way Illinois will move forward on fiscal policy is if voters and constituents take a meaningful role in pushing the political process forward. This tool will help make that happen.”

The state’s current fiscal year (FY2013) will close on June 30th with a minimum deficit of at least $8.1 billion, which is about 34 percent of the $23.5 billion GF spending targeted for current services. Illinois’ recovery will be long, difficult and expensive because of crushing debt owed to the state pension systems, which at the start of FY2013 stood at $95 billion, but continues to climb. To add insult to injury, Illinois is saddled with the worst state bond rating in the U.S.

The budgeting exercise afforded by the calculator provides anyone—laymen and budget wonks alike—with the opportunity to weigh priorities while serving as a virtual Illinois policymaker. The calculator takes a real-world approach, using actual dollar amounts that match the FY2013 budget and appropriations. It allows users to review proposals, make policy choices, and fund and/or defund state agency programs dedicated to education, human services, healthcare, and public safety. The choices available through the calculator are the same options that the Illinois General Assembly and the governor must consider as part of their duties as outlined in the Illinois Constitution.

“The internet-based tool provides a strong sense of realism because users can review, manipulate and choose their own legislative and revenue priorities the same way that the Illinois General Assembly and the governor must make each year,” said Peter A. Creticos, president and executive director of the Institute for Work and the Economy (IWE). “As users work with the calculator, they will quickly discover the monumental challenge of not only managing the state budget, but they will also gain a strong sense of the difficult policy choices that must be made in the course of bringing the budget back into balance.”

Those who wish to “test drive” the calculator can do so free of charge after logging on to the Crain’s Chicago Business website. Users will be asked to provide an email address for login purposes. Then, after finalizing your own personal budget, you will be presented an opportunity to “Share Your Results” via Twitter (https://twitter.com/IL_BudgetCalc), email and/or Facebook (https://www.facebook.com/pages/Illinois-Budget-Calculator/133168016859169).

The Illinois Budget Calculator is an interactive online tool developed in partnership with the Center for Tax and Budget Accountability, a bi-partisan 501(c)3 research and advocacy think tank; Institute for Work and the Economy, an independent, not-for-profit think tank; Crain’s Chicago Business, and The Kineo Group. The project was funded by a grant from the John D. and Catherine T. MacArthur Foundation.