The state’s net position – assets minus liabilities – has slid $49 million to a deficit of $44.8 billion. That compares to a deficit of $17.9 billion six years ago.
“The frustrating thing is that the Democrats sold the 67 percent income tax increase and said it was going to solve the problems,” said State Sen. Matt Murphy (R-Palatine), the Senate Republicans’ point person on budgeting. “This non-partisan, numbers-based report shows our financial position is two and a half times worse than it was back in ’06.”
Murphy says a change in the governor’s office would be a good start.