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To: Haim R. Branisteanu who wrote (72058)	1/15/2010 6:02:25 AM
From: Haim R. Branisteanu	Respond to of 74559

Combined FY 2009 and FY 2010 Deficits from 10 Largest States www.budget.illinois.gov Governor Pat Quinn, State of Illinois Reform. Responsibility. Recovery. Where We Stand Source: Center for Policy and Budget Priorities “State Budget Troubles Worsen” February 10, 2009 and Governor’s Office of Management and Budget State FY 2009 and Projected FY 2010 Deficit California $39.6 billion New York $15.4 billion Illinois $11.6 billion Florida $8.1 billion North Carolina $5.3 billion Georgia $3.8 billion Texas $3.5 billion Ohio $3.2 billion Pennsylvania $2.3 billion (FY09 only) Michigan $1.8 billion state.il.us (this was anticipated in Feb 2009 - since things got more south) The development of the fiscal year 2010 Illinois state budget will be a formidable and unprecedented challenge. Based on current revenue and expenditure estimates, the existing imbalance in the fiscal year 2009 budget, and deteriorating economic conditions; a budget deficit of approximately $8.95 billion will need to be addressed as the fiscal year 2010 budget is structured. After factoring in potential stimulus funds as included in existing congressional estimates, the state may still face a $6 billion deficit. This is with no expenditure growth beyond current fiscal year 2009 appropriations with the exception of Medicaid and pension contribution increases mandated by statute. ioc.state.il.us Comptroller Dan Hynes released his quarterly report today. Right now Illinois has $5.1 billion in unpaid bills. That's in addition to $2.25 billion in short-term loans. Then, tack on another $1.4 billion in unpaid health care bills. That brings the total deficit to $8.75-billion. Hynes is urging Governor Quinn and legislators to take immediate action, or risk cutting more social service programs. Hynes adds, without major change we'll enter fiscal year 2011 with the largest amount of unpaid bills from the prior year, in the state's history. Hynes is currently running for Illinois governor.