Monday, November 2, 2009

Illinois' borrowing bonanza

Facing both an election and the politically unpalatable prospects of raising taxes or cutting social programs, Gov. Pat Quinn and lawmakers increasingly have turned to borrowing as a quick fix and are on track to rack up more than $6.5 billion in loans to keep the state afloat.

As University of Illinois at Springfield state budget expert Charles Wheeler asks: "How are they going to pay that money back?"

Wheeler's comments were featured in an November 2, 2009 article in the Chicago Tribune.

Download a PDF of the article.