Saddled with heavy debt, the Field Museum is facing painful cuts. We talk with the museum president about how the museum will adapt.

Ald. Sandi Jackson is a no-show as the Chicago City Council passes Mayor Rahm Emanuel's budget by a 46-3 vote. Paris Schutz has the details.

We have both sides of the debate on the mayor's controversial proposal to have the city purchase electricity in bulk on behalf of residents.

Chicago teachers are ramping up their strike threat as the Board of Education readies to vote on a budget. Paris Schutz has the latest on why contract negotiations are appearing to stall.

Now that Congressman Paul Ryan has joined the Romney ticket, Ryan's controversial federal budget proposal is coming under intense scrutiny. We look at what that fiscal plan actually contains.

The mayor says he’s cut the city’s budget deficit in half. It’s the one piece of positive news in an otherwise ominous financial forecast. Are tax hikes and spending cuts inevitable? We take a look.

A new report blasts the Chicago Public Schools for budget mismanagement. We have the latest.

Chicago Public Schools just released its proposed budget for next year. For many, it's a stunner, with the district planning to completely empty its bank account. We get reaction from all sides.

With a ballooning budget deficit, angry teachers and some top administrators leaving, Chicago Public Schools CEO Jean-Claude Brizard has a lot on his plate. We talk with him about what he's facing.

One day after his "day of reckoning" budget speech, Gov. Pat Quinn tells us what he expects from state lawmakers; and Republican Illinois Treasurer Dan Rutherford joins us to share his take on the governor's plan.

Illinois lawmakers are back in Springfield next week. Can they make any headway in reducing the state's huge fiscal problems in this election year? We hear from four lawmakers.

Illinois could eventually face nearly $35 billion in unpaid bills. A new report suggests the governor and general assembly can fix the problem.

We speak with two of Chicago's financial leaders -- the city budget director and comptroller -- about how they've overachieved their budget, and what's next for Chicago in 2012.

The Mayor's budget gets unanimous approval, despite earlier controversy over some of the fee hikes and service cuts. Is it the "rubber stamp city council" all over again? Carol Marin and her panel have more.

Aldermen propose new taxes on cigar and pipe smokers, as well as higher fees for loading and valet zones. The goal: staving off cuts to libraries, the 911 center and mental health facilities. Elizabeth Brackett reports.

Chicago Police Superintendent Garry McCarthy is defending plans to close three Chicago police stations. We have the latest from the City Council budget hearings.