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Illinois awash in red ink as budget deal buys it 6 more months

from Bloomberg

In Illinois, roadwork won’t grind to a halt, prisons won’t run out of food and schools will reopen on time. But the six-month stopgap budget that averts a government shutdown is only digging the state deeper into the hole. With no agreement between Republican Gov. Bruce Rauner and the Democrat-led legislature over how to raise revenue, the state is on track to spend $5.5 billion more than it brings in by the end of June, according to initial estimates from the Civic Federation, a watchdog group. more


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