Comptroller Mendoza: State finances are "abysmal"

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SPRINGFIELD - The State's Comprehensive Annual Financial Report for fiscal year 2016 shows Illinois' net deficit has climbed to $126.7 billion.

The report was released on Tuesday by Illinois Comptroller Susana Mendoza.  In a release, Comptroller Mendoza said, "Volumes of research go into this report, but I can summarize our State finances in one word: Abysmal."

According to the report, Illinois' total net deficit climbed from $121 billion in June 2015 to $126.7 billion in June 2016, with $116 billion of that being attributed to pension shortfalls.  Additionally, the General Fund deficit increased from $6.8 billion to $9.5 billion, and spending on health and social service programs dropped by $834 million in the last fiscal year.

To view the full report, click here.

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