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TOP OFFICIAL: State of Illinois in Massive Financial Crisis Mode
Illinois Comptroller Susana Mendoza is warning that new court orders in lawsuits filed by state suppliers that are owed money mean her office is required to pay out more than Illinois receives in revenue each month. This means there would be no money left for so-called "discretionary" spending — a category that in Illinois includes school buses and some ambulance services. "I don't know what part of 'We are in massive crisis mode' the General Assembly and the governor don't understand. This is not a false alarm," said Mendoza. "The magic tricks run out after a while, and that's where we're at." Illinois has $15 billion in overdue bills and the lowest credit rating of any state.
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