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Illinois' state of insolvency | Chicago Business Today

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Uploaded by on Feb 3, 2010

If the state of Illinois were a business, it would probably go bankrupt. The states cash flow cant cover its bills, and its liabilities far exceed its assets. The budget gap is hard to pin down but right now the state appears to be out of round by nearly $6 billion—and its getting worse every day, as the recession holds down tax revenue and pension and other payments continue to slam the treasury.

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