Wednesday, February 4, 2009

Illinois budget hole could hit $9 billion

The combined budget deficit for this year and next could approach $9 billion, according to state Comptroller Dan Hynes.

Hynes says Illinois will carry a deficit of more than $4 billion into the budget year that begins July 1. Then the new budget year will see its own, even larger gap.

The figures assume officials don't increase spending except for Medicaid and pension costs that are set by law. If spending goes up elsewhere, the deficit would go up, too.

Hynes says economic-stimulus money from the federal government could reduce the gap. Even if that money comes through, state officials will still have to figure out how to fill a $6 billion hole.
More of a round-up can be seen over at the Capitol Fax.

No comments:

Post a Comment

PLEASE READ FIRST!!!! Comment Moderating and Anonymous Comment Policy

While anonymous comments are not prohibited we do encourage you to help readers identify you so that other commenters may respond to you. Either read the moderating policy for how or leave an identifier (which could be a nickname for example) at the end of the comment.

Also note that this blog is NOT associated with any public or political officials including Alderman Roderick T. Sawyer!