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Tue July 17, 2012
Illinois Budget Begins with Bills
Illinois began its new budget year staring at a huge stack of old bills. State Comptroller Judy Baar Topinka says Illinois has between $7.5 billion and $8 billion worth of old bills still left to pay when the new fiscal year began this month.
That's slightly better than the total for the two previous years. It means money from the new budget goes to paying old bills, leaving less cash for the future. State revenues are up this year but so are costs.