SPRINGFIELD, IL – The budget proposed today by Gov. Pat Quinn will only serve to compound the fiscal crisis facing the State of Illinois, according to State Sen. Pamela Althoff (R-McHenry).
Under the Governor’s proposal, Illinois would spend nearly $5 billion more than it takes in during the upcoming Fiscal Year 2011, and borrow an additional $9 billion.
“This could very well be the worst budget ever presented to the General Assembly,” Althoff said. “It’s disappointing the Governor didn’t even make an effort to balance the budget, or provide a way of repaying the borrowing. If this budget passes, it will not only drive us deeper in to debt, it will likely lead to a double downgrade of our state credit ratings, taking us from the second-lowest in the nation to the level of California, which is now the worst.”
Althoff said the Governor would be better served to start with a budget that incorporates the litany of spending reforms and cost-savings that have been presented to the Governor, including Medicaid managed care reform and pension reforms – measures that could save the state billions of dollars annually.
“Hopefully in the coming weeks, we can have a serious dialogue with the Governor as to how to chart a responsible fiscal path for our state,” Althoff said. “We need him to step up to the plate and provide the necessary leadership to truly balance the budget. These are tough times that call for tough decisions.”
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