Illinois: Third Biggest Budget Gap in 2010

Only two states beat Illinois for highest dollar deficit

By Andrew Greiner
|  Tuesday, Dec 29, 2009  |  Updated 6:00 PM CDT
View Comments (
)
|
Email
|
Print
2010's Dreary, Dismal, No-Good Budget

Getty Images

Whoa, that bad huh?

advertisement
Photos and Videos
More Photos and Videos

Illinois has the third largest 2010 budget gap, according to a recent report.

The Prairie State can expect a 2010 budget shortfall of up to $7.3 billion in 2010, or 21 percent of its general fund, according to a National Conference of State Legislatures report.

In terms of raw dollars only New York and California, with $17.65 billion and $24 billion shortfalls respectively, trump Illinois’ ~$7.3 billion budget gap.

Even though the national economy is recovering nicely, state economies will be slow to follow. Typically states need about two years to catch up, the report states. That means tough times will remain across the country.

Just eight other states top Illinois in terms of percentage shortfall; Connecticut, Vermont, California, Florida, Arizona, Alaska, New York and Nevada are also struggling.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get Our Weather App
Stay ahead of the storm with the NBC... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out