When Will Illinois *Really* Run Out Of Money? Could Be August
Illinois’ top fiscal officer the state budget crisis could soon go from bad to worse.
Comptroller Susana Mendoza says if the General Assembly and governor cannot reach an agreement, Illinois will not have enough money on hand to comply with all its court-ordered spending.
“The state of Illinois in the month of August will not be able to meet its core priorities, including schools," Mendoza said Friday. “We’re talking about pension payments. We’re talking about payroll for the state of Illinois. We are talking about lots of things that today are protected by court order that will no longer be fully complied with."
Although Illinois has gone nearly two years without a full budget, a combination of court orders and state laws have forced the state to spend billions of dollars on debt service, state pensions, and state-employee paychecks.
The General Assembly is scheduled to continue meeting through the weekend. They’re considering ideas that Governor Bruce Rauner has made a prerequisite for passing a balanced budget.