SPRINGFIELD, Ill. — The state's overall deficit climbed to nearly $44 billion last year, easily the worst in the nation, the Illinois auditor general reported Thursday.

The red ink grew by 16.8 percent in a single year, Auditor General William Holland said.

The new report includes all of Illinois' assets and liabilities and gives a broader picture of the state's financial condition than simply reviewing the annual budget — one of steady deterioration.

With no cash available, more state payments were late and for larger amounts, the audit found. Illinois ended the fiscal year with $4.7 billion in unpaid bills. The state fell further behind in paying tax refunds. Bookkeeping was slow and disorganized.

http://www.cbsnews.com/8301-505245_162-5....

I haven't really followed Illinois closely but should the headline read Debt instead of Deficit?

The big question is whether the Fed will step in?

call cal liberial pollb.tch there will be answers

Looks like a one year number to me. Googled Illinois debt.

Perhaps the U.S. has found its Greece (or another one). About the same scale anyway.

In Illinois the public unions run the state. Chicago Teachers wanted a 30% raise. Don't forget Obama's home state is Illinois and he has Rahm Emanuel running Chicago. There are numerous fly-bys of the Obamas and staff in helicopters from Rockford and O'Hare en route to Chicago.

http://www.dailykos.com/story/2011/06/22....

Chicago Teachers Union Protests CPS Executive Pay Raises, Chicago School Board
Chicago - Hundreds of teachers from the Chicago Teachers Union protested at Chicago Public School headquarters Wednesday, days after the board denied teachers a 4 percent raise.
The protest consisted of 1,500 teachers by some estimates. The crowd chanted and walked from CPS headquarters at Clark and Adams, blocking Clark Street for a time, then in front of the Bank of America and the Board of Trade.

Teachers said it's unfair to deny them their negotiated 4 percent pay raise when they'll be asked to work longer school days and especially when the board is voting to increase the salary of the new CEO and others.

The board was voting Wednesday on giving pay raises to five new executives.

Seven other unions join teachers to negotiate lost raises
Seven other unions have now joined teachers in asking Chicago Public Schools officials to negotiate rescinded salary increases.
Seven other unions have now joined teachers in asking Chicago Public Schools officials to negotiate rescinded salary increases.

CPS officials said Monday they've received written notices from the other unions, asking to sit down at the table and negotiate over wages. The other unions, which represent everyone from cafeteria workers to school engineers, include the Service Employees International Union, International Union of Operating Engineers and International Brotherhood of Electrical Workers.

New Chief Education Officer Noemi Donoso’s $195,000 is up only slightly from her predecessor Barbara Eason-Watkins $192,850. New chief of staff Andrea Saenz is to be paid $165,000, compared to $116,000 of her predecessor. However, Vitale noted that back in 2009, the post carried a base salary of more than $163,700.

Highest UE in the state is Winnebago County, where I grew up:

http://www.beloitdailynews.com/news/area....

25% UE there in the depths of 1982:

http://en.wikipedia.org/wiki/Early_1980s....

Quote:

The red ink grew by 16.8 percent in a single year, Auditor General William Holland said.

They increased income taxes 67% last year and spent 16.8% more than that even took in.

So that mean californias is like 80 billion right?

Good thing State Constitutions require balanced budgets.

Quote:

They increased income taxes 67% last year and spent 16.8% more than that even took in.

Yeah but the FSA is so worth it.

And people wonder why I left?