A recent Associated Press report underscored the significant challenges Illinois faces when it comes to filling its anticipated multi-billion dollar budget hole. The Associated Press found that of 22 states facing budget deficits, Illinois has the worst deficit by far, at more than $6 billion.
According to the AP’s analysis:
The only state neighboring Illinois that is also facing a deficit is Wisconsin, which has two year deficit of $650 million or only 1/10 of Illinois’ deficit.
The other 21 states with a shortfall have an average deficit of $974 million – less than 1/6 Illinois’ deficit. Additionally, many of those are two-year budgets.
The only other state with a deficit half as big as Illinois’ is Alaska. Alaska faces a $3.6 billion deficit, which has been attributed to plunging gas and energy costs.