A lot of hay has been made in the press about the recent tax increase in Illinois, especially from our neighbors to the North in Wisconsin, where the newly-elected governor is anxious to prove that the taxing ways of Illinois Democrats will lead to our state's demise. Even Indiana's gotten into the act, with the mayor of Indianapolis running full page ads in the Chicago Tribune and the Peoria Star Journal encouraging businesses to relocate East to take advantage of what's advertised as a more favorable tax rate. Illinois's elected officials haven't helped the situation, either, passing the tax increase without doing much to frame the issue. more ›

After much hand-wringing, doomsdaying and speculation, Mayor Daley and his administration finally laid out how serious the city's budget deficit is. The city's 2009 budget has a $420 million gap and the mayor is saying nothing, except an increase in real estate taxes, is out of the question. That includes as many as 1,800 layoffs. "We’re not gonna speculate on the number of layoffs or if they are even necessary. Today, we’re simply framing the issue for you," the city's Chief Financial Officer Paul Volpe said Thursday. "Today, everything’s on the table. That I would tell you. The mayor has said that he will not increase property taxes. That’s a certainty. Anything else, we’ve got some tough choices to make," he said. more ›