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Politicians, citizens in denial about true nature of state finances

Nov 04, 2013

Last week the Fiscal Futures Project of the Institute for Government and Public Affairs issued a report detailing the depth and complexity of the state’s financial trouble.

The paper’s most significant finding is that Illinois is not in a financial crisis, but rather suffers from a permanent, chronic financial ailment that will not go away under current budgeting practices and tax law. In short, even if Illinois extends or makes permanent the 2011 income tax increase, it still will not escape its ever-deepening financial hole.

An Associated Press Q&A with one of the report’s authors, Richard Dye, underscores these findings.

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