The Bond Buyer: Illinois offering document paints a gloomier picture than its politicians

CHICAGO – The Illinois budget labeled as “balanced” by Democrats and Republicans alike has an estimated $1.2 billion structural imbalance, according to the state’s new offering statement.

“To avoid future structural deficits, the governor and General Assembly would, among other potential solutions, need to reduce expenditures, adjust revenue collections, or approve a combination of revenue adjustments and reductions in expenditures,” says the preliminary official statement for a $920 million general obligation bond refunding set to price Wednesday.  Click here to learn more