Report Shows Illinois Overspending Taxpayer Money Year After Year

Springfield, IL-(Effingham Radio)- A recent study sheds some light on Illinois’ history of overspending taxpayer money over the years.

Pew Charitable Trusts reports that most states collected more than enough revenue to cover expenses over the long-term, but Illinois had a negative fiscal balance and carried forward deferred costs of past services, including unfunded public employee retirement liabilities.

Pew state fiscal health manager Joanna Biernacka-Lievestro says Illinois is in select company.

After New Jersey, Illinois had the largest deficit with aggregate revenue able to cover only 93.9 percent of aggregate expenses. In comparison, Indiana and Iowa were both close to 104 percent.

Story from Illinois Radio Network