A Nearly $8 Billion Deficit and 5 Other Things to Know About the Stopgap Budget

The stopgap budget signed into law on June 30 might have been good news for Illinois’ human service providers and public colleges, but the bipartisan agreement will do anything but help the state’s beleaguered finances.

An analysis of the six-month budget released last week by the General Assembly’s Commission on Government Forecasting and Accountability shows spending will exceed anticipated revenues by $7.8 billion — a new record.

In addition to the record-setting deficit, here are five things you need to know about the analysis.

And be sure to check out our 45-second video recap of unbalanced state budgets that have been proposed or passed in recent years.

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