Sophia Tareen

Illinois Gov. Pat Quinn insists lawmakers can fix the state's most urgent financial problem by passing a major pension overhaul in a single day, but he seems to be the only leader convinced it can be done so quickly.

The Governor has called an Aug. 17 special session for lawmakers to finally deal with state pensions, as the unfunded liability is increasing by $12 million a day.

Gov. Pat Quinn is calling lawmakers back for a one-day session to reform Illinois' ailing pension systmes, but didn't introduce any new ideas on breaking gridlock.

Officials remain divided over the next steps in solving an ever-increasing $83 billion funding gap in state retirement systems.

A bipartisan group tasked with cutting Illinois' Medicaid budget by $2.7 billion failed to come up with a plan by a deadline this week and now Gov. Pat Quinn intends to move ahead with his own proposal, committee members said Wednesday.