New Forecast Predicts 14-Billion Deficit In 12 Months
Illinois could be looking at 14-billion-dollars in unpaid bills by this time next year. Moody's Investment Services is out with a new forecast for the state. Moody's says Illinois continues to spend money it doesn't have on programs it can't afford. The investment house says the combination could drive Illinois' nearly eight-billion-dollar deficit to 14-billion by the end of the next budget in July of 2017.