Illinois has a budget deficit that could hit eight-billion-dollars this year and no money in the bank. A new study says that makes the state ripe for calamity in an economic downturn. S&P Global Ratings looked at a number of state budgets, including Illinois’, and found ten aren’t prepared for a new recession. The study says Illinois is spending money it doesn’t have currently and if tax revenues fell even a tiny bit, the state could suffer a devastating blow.
Illinois Woefully Under-Prepared For Economic Downturn
Mattoon, IL, USA / MyRadioLink.com
Aug 14, 2016 | 3:04 AM