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Charting Illinois's Fiscal Future: Dealing with Structural Deficits and the Implications of High Levels of Future Debt

  • Overview
  • Speakers
  • Agenda
  • Accommodations
  • Conference Materials
  • Registration
state capitol

The conference is co-sponsored by the Federal Reserve Bank of Chicago and the Institute of Government and Public Affairs at the University of Illinois and is designed to investigate the implications of fiscal insolvency as manifested by structural budget imbalance and high levels of state and local debt on government operations and economic growth. The program will investigate models for improving budgeting transparency and accountability while examining strategies for unwinding existing obligations while minimizing economic fallout.

 

Join us on our blog before the conference. Watch this site for updates, which will be posted as they become available.

06/17/10
12:00 PM
Conference Registration
12:50 PM
Welcome and Opening Remarks
1:00 PM
Session 1: Measuring State and Local Indebtedness: How Much Is Too Much?

  • Measuring State Debt Levels
    • Rick Mattoon, Economic Advisor, Federal Reserve Bank of Chicago
    • Daniel McMillen, Professor, University of Illinois
    • William Testa, Vice President, Federal Reserve Bank of Chicago

Discussion

Leslie McGranhan, Economist, Federal Reserve Bank of Chicago

  • Comments
2:00 PM
Session 2: A Conversation on Strategies for Dealing with Fiscal Insolvency: Can New Structure and Governance Promote Fiscal Transparency and Accountability?

Presenter

Allen Proctor, Proctor Consulting, Former Deputy Budget Director, New York City and Executive Director, New York State Financial Control Board


3:00 PM
Session 3: Where Is Illinois Headed? The Fiscal Futures Project

  • Where Is Illinois Headed? IGPA's Fiscal Futures Project
    • Richard Dye, Institute of Government and Public Affairs, University of Illinois
    • Nancy Hudspeth, Institute of Government and Public Affairs, University of Illinois
    • David Merriman, Institute of Government and Public Affairs, University of Illinois
4:00 PM
Session 4: The 800 Pound Gorilla That Got Us into This Problem – Pensions and OPEB

  • Understanding Illinois's Pension Problem
    • Lance Weiss, Gabriel, Roeder, Smith

  • Evaluating the Options for Restructuring Illinois Pension Debt – Hope vs. Reality
    • Fred Giertz, University of Illinois

  • Creating a New Mechanism for Restructuring Municipal Pension Debt Short of Bankruptcy: The Illinois Municipal Pension Protection Agency
    • Jim Spiotto, Chapman and Cutler
5:30 PM
Reception
06/18/10
7:30 AM
Registration and Continental Breakfast
8:30 AM
Session 5: Business Climate: Will Higher Taxes or Reduced Government Services Poison the Well?

  • A Survey of Business Climate Literature
    • Nathan Anderson, University of Illinois

  • A Business Perspective on Factors That Influence Location and Investment
    • Fred Montgomery, Director Federal & State Tax, Sara Lee
9:30 AM
Session 6: If New Revenues Are Necessary, Which Tax Increases Would Be the Least Disruptive to the State's Economy?

Presenter

Matt Murray, University of Tennessee

  • Presentation
10:15 AM
Break
10:30 AM
Session 7: How Do We Create Fiscal Discipline in the Future? Priorities of Government (POG), Washington State's Budgeting Process

  • Washington State's Budgeting Process
    • Stan Marshburn, Deputy Director, Office of Financial Management, Washington State

  • Implications of Proposition 13 on California's Budget Stress
    • Tracy Gordon, University of Maryland
11:30 AM
Session 8: What Other Options Exist for Restoring Illinois to Long-term Fiscal Health?

  • Asset Sales, New Bond Issues, Tax Increases, Expenditure Cuts, Default
    • Lawrence Msall, President, Civic Federation
1:00 PM
Adjourn

Last Updated: 06/28/2010

 Background Information and Resources

  • Blog with Us about Illinois's Fiscal Future
 
Event Information
Date
06/17/10 - 06/18/10
Registration Deadline
Wednesday, June 16, 2010
Location

Federal Reserve Bank of Chicago
Third Floor Conference Center
230 S La Salle St
Chicago, IL 60604

Fee:
$50
Event Contact
Ella Dukes
(312) 322-5757
E-Mail

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