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Report: Illinois Finances "Beyond California"
Illinois' financial troubles have landed it in a new report called "Beyond California." The study is billed as more than a rehash of bad news, according to Barbara Rosewicz, managing editor and deputy director of stateline.org, part of the Pew Center on the States.

"We think our report is unique because we have looked not only at economic factors but also at some policy factors that went into California's problem," says Rosewicz. The 50 states were scored on factors such as the unemployment rate, foreclosure rate, revenue decrease, and the deficit as a proportion of the general fund.

Illinois particularly falls down in the area of the deficit, said to approach $12 billion. "Illinois' budget gap was by far one of the worst in the country," says Rosewicz. "Illinois entered the national fiscal crisis in a precarious position. It has borrowed money to pay its pension obligations, it's floated bonds to take care of pension obligations, the state's current budget still relies on borrowing and paying bills late."

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(Illinois Radio Network)
11 11 09 by Newsroom
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