States Demanding Biggest Bailouts Do Least to Control Spending, Deficits
When Illinois legislators approved a $42.8 billion budget for the coming year during an emergency session over the Memorial Day weekend, official revenue projections were only for $36.8 billion.
Lawmakers weren’t worried about the resulting deficit, however, because they assumed the state would borrow at least $5 billion to close the revenue gap.-- More...
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