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Candidates Suggest Feds Should Bail Out IL
(IRN) -- Should the federal government bail out the state? Maybe, say our U.S. Senate candidates.

Democrat Alexi Giannoulias says yes, the federal government has some responsibility for keeping the state out of insolvency, and it would be a good opportunity to impose oversight, unlike in the stimulus program.

"When money was given to states and municipalities, there was no requirement that there was some sort of budget constraint, some sort of accountability to make sure that you only get this money if you make some corrections to the way you operate your yearly budgets," Giannoulias said.

U.S. Rep. Mark S. Kirk (R-Highland Park), the Republican, says he's against a bailout generally, saying the state has just been poorly run by the likes of Giannoulias, the state treasurer, but he says he could support help for individual programs if it doesn't increase the federal deficit, meaning other spending would have to be eliminated.

The state of Illinois is behind in payments to its creditors by about $6 billion, and has an operating deficit of about $6 billion as well.

(Illinois Radio Network)
10 23 10 by Newsroom
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