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Old 10-16-2011, 01:46 PM
 
Location: Great State of Texas
86,067 posts, read 78,580,670 times
Reputation: 27667

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So this is how they are making do..by not paying their bills.
And this only serves to hurt the economy more.
As of last month it was $5 billion in unpaid bills...BILLION folks.
Imagine all those local businesses serving their local governments and not getting paid ? Now imagine that unpaid bill dated 2010 ?
And they did raise taxes but pension costs took all that money.


Deadbeat state: Ill. owes billions in unpaid bills - Yahoo! News
Once intended as a stop-gap, the months-long delay in paying bills has now become a regular part of the state's budget management, forcing businesses and charity groups to borrow money, cut jobs and services and take on personal debt. Getting paid can be such a confusing process that it requires begging the state for money and sometimes has more to do with knowing the right people than being next in line.

As of early last month, the state owed on 166,000 unpaid bills worth a breathtaking $5 billion, with nearly half of that amount more than a month overdue and hundreds of bills dating back to 2010, according to an Associated Press analysis of state documents.
..
Blagojevich's replacement, Democrat Pat Quinn, raised income taxes and trimmed spending, but that money was gobbled up by other needs, primarily rising pension costs.
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