Sunny state revenue forecast turned gloomy

Illinois' overly optimistic revenue projections let lawmakers balance the state budget, but projections don't pay the bills. The Commission on Government Forecasting and Accountability just warned that the state may fall $600 million short on revenue. Lawmakers had projected that income would rise $1.6 billion this fiscal year. But we'll be lucky to make it to $1 billion.

Fiscally prudent leaders would be cutting back now. But Gov. Rod Blagojevich's spokeswoman called on lawmakers to raise new revenues. Higher taxes would just pull down our struggling economy. And what would Blagojevich raise? Lawmakers keep talking about expanding gambling to pay for a capital projects bill. But that isn't as good a gamble as it once seemed. In January, state taxes generated by the gambling boats were way down -- $15.85 million compared with $19.66 million in January 2007. More likely Blagojevich and lawmakers will end up borrowing -- including from hospitals, doctors and pharmacies in the form of more delayed reimbursements.

It's not a pretty picture.

Good, bad Knight

Basketball coach Bobby Knight surprised everyone by calling it quits, pulling the plug on a 42-year career in which his teams at Army, Indiana and Texas Tech won more games than those of any other coach in the history of the college game. The 67-year-old Knight, who was exiled to Texas Tech in 2001 after wearing out his welcome at Indiana University, signed a three-year contract extension last September. But there have been hints that he wouldn't be around long. Knight already had anointed his 37-year-old son Patrick as his successor.

Knight, of course, was always a fascinating coach and personality to watch. Most of his Indiana teams were outstanding, and Knight's bitter rivalries with Illinois coaches Lou Henson and Lon Kruger produced great games and memorable moments for fans of both teams.

But while he was considered an outstanding teacher of the game and capable of generous and kind acts, Knight's belligerent personality marred what could have been an outstanding reputation. Going out of his way to court trouble, he proved to be his own worst enemy.