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Illinois budget deficit much worse than $7.8B, analysis finds

Kevin HoffmanReboot Illinois

Sep 30, 2016

Remember the $7.8 billion budget deficit we’ve been telling you about? Well, it’s actually projected to be around double that in fiscal year 2017.

Why are we just finding this out now?

A Chicago Sun-Times article published on Sept. 28 detailed a $2.4 billion disagreement between Gov. Bruce Rauner’s administration and the General Assembly’s Commission on Government Forecasting and Accountability over how to calculate the state’s General Revenue Fund deficit.

The commission’s estimate, which we have used, anticipates spending to outstrip revenues by $7.8 billion, while the Rauner administration contends the deficit is $5.4 billion when federal reimbursements for Medicaid spending and a…

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