Ill. Governor Pat Quinn visits the Stan Musial Veterans Memorial Bridge in East St. Louis July 15, 2013. The bridge is scheduled to open March 2014.
Credit (Kristi Luther/St. Louis Public Radio)
The Stan Musial Veterans Memorial Bridge will connect Missouri and Illinois. President Barack Obama signed off on the name of the bridge, which honors St. Louis Cardinals baseball player and veteran Stan Musial.
NPR's business news starts with pension problems for Illinois.
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MONTAGNE: The credit rating for the state of Illinois has taken another step closer to junk bond status. Illinois already had the lowest credit rating in the nation before it was downgraded again this week by Moody's and Fitch. The state legislature adjourned last week without addressing a $100 billion pension shortfall.
So as NPR's David Schaper reports, the governor is calling lawmakers back.
A new report shows nearly a quarter of Illinois' state spending plan for next year will go toward pension payments. The Illinois State House and the State Senate have so far disagreed on the best way to address the worst-funded pension system in the country.
Laurence Msall is with the Civic Federation - a budget watchdog group. He says the state used to spend about 7 percent of its budget on retirement benefits. Now it's closer to 25 percent.