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NPRJanuary 13, 2010 Even as states across the country struggle with budget shortfalls, few are as stretched as Illinois. The state is in the midst of a cash-flow crisis, with $5 billion in unpaid bills, and a deficit that is expected to top $11 billion this year. Gov. Pat Quinn is expected to outline the problems, and he may offer a few solutions in his State of the State address today. The governor, who was sworn in after Rod Blagojevich was impeached and thrown out of office a year ago, wants to raise the state's income tax. But first he must survive a primary election that is just three weeks away.
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http://www.npr.org/templates/story/story.php?storyId=122540772
The state of Illinois is $5 billion behind in paying its bills and nearly $1 billion is owed to school districts.
Only the state of California is as worse off financially as Illinois with local and state governments in California in hock for $15.5 billion of the debt since April.
The overall deficit in Illinois has ballooned to $13 billion, which includes indebtedness of $775 million to public universities and community colleges.
By some estimates, the governor that voters elect in November will inherit a deficit of $13.7 billion.
http://www.chicagotribune.com/news/elections/chi-state-budget-woesjan11,0,5766450.story
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