NWSOFA FIscal and Economic Issues Meeting with State Representative Michelle Mussman

I’m very excited about the meeting on Monday June 12th, 7 pm at the Schaumburg Library, 130 South Roselle Road, Adult Classroom. We plan a deep dive into Illinois budget issues. Illinois Representative Michele Mussman (D-#56) will help explain Illinois’ current fiscal situation and the status of budget efforts this year.

Rep. Mussman will brief us on the ongoing budget negotiations for the upcoming fiscal year. She will use her unique style to guide us through the Budget Process. The Incredibly hard work that goes into getting to a Budget Bill.. the Ups and Downs, the Who, What and Why presented in a candid, honest approach.. Refreshing eh!

Regular Features of the Fiscal & Economic Issue team will Include:
Come get the facts about the economic recovery and the status of ongoing appropriations challenges at both the state and national level.
To help us better understand what is happening in Illinois, we are honored that IL Representative Michelle Mussman will join us and lead the segment on State Budget Issues.
Illinois’s current fiscal year (FY) ends June 30th and the FY 2018 budget is basically due May 31st. We will have an update on the budget at our June 12th meeting, either what is in the budget or the status of efforts to enact a budget before the June 30 end of the fiscal year.
Illinois is now operating without appropriations since December 2016. The revised jobs report for Illinois shows job gains for 2015 of 81,000. Job gains in 2016 were reported at 18,900. Through April 2017 Illinois has added 8.000 jobs (24,000 annual rate). It appears the lack of a balanced budget is having a negative effect on job growth in Illinois.
Nationally we have added about 2.2 million jobs in the last 12 months (through April). April reported 211,000 jobs added. In April the (U-3) unemployment rate was at 4.4%, while the U-6 rate was 8.6%. While down from a high of 17.1% during the downturn, this U-6 rate is still higher than the 8.4% in the fall of 2007 before the Great Recession of December 2007 to June 2009.
The May jobs report comes out Friday, June 2nd, so we will have that data to discuss at our meeting. 1st quarter real GDP growth was reported at +1,2% (first revision).
Bring your Questions for Rep. Mussman and for Karl Faulstich and Dave Doney our Fiscal Co-Leads. Come join us for some exciting discussions.

Then come join us for continued discussions at Lou Malnati’s after 9:30 pm. While OFA may not be political, we can discuss the politics of what is happening now at Lou’s.

I look forward to seeing you on the 12th.

You can RSVP for the meeting at:

RSVP Link

[Note that some of the jobs information on the OFA site has not been updated. Some technical issues with updating meeting announcements this month. I will have the current information at the meeting and will be forwarding my PowerPoint presentation prior to the meeting.]