Illinois’ budget deficit is a billion dollars more than initially predicted. Comptroller Leslie Munger, who signs checks for the state government, announced today that Illinois will be more than $6 billion dollars in debt by June 30th. That is, if the state continues its current rate of spending without a budget.
“If you had 6.2 billion dollars, you could buy both of this year’s Super Bowl teams. You could buy the Willis Tower. You could buy a trip to the moon and back. In fact, you could buy all of these things and you would still have money left over.”
Munger says the deficit is higher than originally projected because court orders require the state to pay for some services like Medicaid and paying employees, regardless of the cost.
Last year the income tax rate dropped in the state, which means $5 billion dollars less for the government.