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Quinn Signs Budget With Loads of Debt
POSTED 10:05pm 7/15/09 SPRINGFIELD (AP) -- Gov. Pat Quinn has signed a new Illinois budget that will borrow heavily and let bills go unpaid in order to keep state government running.

The budget leaves out the sharp tax increase that Quinn wanted. It also avoids the drastic spending cuts that were considered last month.

Instead, the state will borrow about $3.5 billion to spend on routine government services. Government also will simply not pay about $3.2 billion it owes to businesses.

The budget reduces spending by about $2 billion with more cuts possible later in the year.

Critics say the budget just digs the state deeper into its financial hole.

But Quinn and other supporters argue that it ends a deadlock that threatened to shut down state government.

(Copyright 2009 by The Associated Press. All Rights Reserved.)
07 15 09 by Newsroom
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