It's Getting Bad
Illinois is ranked No. 2 in a report from the Center on Budget and Policy Priorities for its projected budget gap for fiscal 2011, just behind California, according to a Fortune magazine report.
Illinois' projected deficit of $12.8 billion falls just behind California's forecast of a $14.4 billion budget shortfall, and ahead of New Jersey's $8 billion forecast, according to the report published on CNNMoney.com.
Besides California, Illinois and Arizona, 15 other states face significant budget shortfalls in fiscal 2010, according to the data. Nine states predict that they won't realize revenue similar to the healthier years of 2007 and 2008 until 2014, the report said.
Or as we call them, the Sources of All Evil.