The sagging U.S. economy continues to take its toll on Illinois' budget. The state projects an $800-million shortfall this year due to lower-than-expected tax revenue.
The deficit projection is based on data from the first four months of the state's fiscal year. Mike Klemens is a spokesperson for the Illinois Department of Revenue. He says the projected $800-million shortfall assumes the economy will stay at the current level.
KLEMENS: If the economy gets worse, it's going to be a bigger number. It's going to easily go over a-billion dollars.
Dispatches from Chicago's south side.
Tuesday, November 11, 2008
Poor Economy Continues to Hit Illinois State Budget
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