Great Recession

Two people in business attire ascending on an escalator.
Alex Proimos / Flickr.com/proimos (cc by-nc 2.0)

A new report from the Illinois General Assembly suggests concerns about the economy might be overblown.

Flickr user spDuchamp / Creative Commons

A report says the outlook for the Illinois economy is bleak.

elevator down arrow
Eric Skiff

In 2008, the Great Recession helped to tip Illinois into a fiscal crisis it still hasn't recovered from. A new report from Standard & Poor's found that another even moderate recession would mean big trouble for the state's budget. ​

House floor
Brian Mackey / WUIS

Ever since the Great Recession of 2008, Illinois state government has been going from one fiscal crisis to the next. While crisis can force action, it can also lead to decisions that may not be best in the long term.

Wikimedia Commons

  Lawmakers are exploring a way to stabilize Illinois communities hit hard by the Great Recession. Advocates say a statewide property tax credit would boost development in blighted areas.

When houses are left vacant, it drives down property values for the entire block. In Cook County alone, there are an estimated 55,000 such vacancies.