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After 2 Years Without A Budget, Debt And Pain Are Mounting In Illinois
by rd95

    The state has accumulated nearly $15 billion in unpaid bills, and state comptroller Susana Mendoza warned last week that cash reserves are so low that Illinois "will not be able to meet its core priorities, including schools," by August.

    Bond rating agencies such as Standard & Poor's have threatened to downgrade the state's debts if an agreement isn't reached and have blamed the "unrelenting political brinkmanship" for putting Illinois "at risk of entering a negative credit spiral."

    The political fight has dragged on for so long, in large part, because the pain and anxiety of the budget standoff have been invisible to many in the state.