Too Much Borrowing in Quinn Budget Plan: Watchdog

April 26, 2010  |  

(Chicago Sun-Times) — Gov. Quinn’s budget plan depends too heavily on borrowing, ignores billions of dollars in unpaid bills and will worsen the state’s precarious fiscal condition next year, a top government watchdog warned.  In an analysis released today of Quinn’s latest budget proposal, the Chicago-based Civic Federation expressed its opposition to the governor’s spending plan because it is not balanced, relies upon nearly $6 billion in borrowing to fund day-to-day operating costs and does not fund the state’s mammoth pension obligations.

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