There is no easy way to repair Illinois’ chronic annual deficit. That’s according to the U of I’s Institute of Government and Public Affairs.
An analysis from the university's Fiscal Futures Project says the state currently faces a $9 billion annual deficit that will grow to $14 billion in about a decade.
Officials say the state hasn't paid the $159 billion debt, which is more than twice the inflow of revenue in a single year. Solving the debt problem will require a long-term plan that includes tax increases, spending cuts and economic growth.