* From Illinois Watchdog…
[Rep. John Bradley’s] panel has already said the state will have about $34.4 billion to spend next year. The current state budget spends $36 billion. But Illinois has $42.6 billion in bills.
Illinois Comptroller Judy Baar Topinka’s office said there are $6.6 billion in unpaid bills either at the comptroller’s office or inside state agencies.
Lawmakers don’t know how they will stretch $34 billion to cover $42.6 billion in obligations. […]
It will likely take a tax increase to make up the rest.
That’s just plain ridiculous.
Adding the entire stack of unpaid bills to next fiscal year’s “must pay” obligation to make the situation look even more dire than it already is and then predicting a gigantic tax increase to pay it all off is fantasy analysis.