All the Loopholes U.S. States Have to ‘Balance’ Their Budgets – Bloomberg

Illinois, for example, ran a budget deficit of 6% from 2004 through 2018, despite having a balanced-budget amendment. In explaining the shortfall, a report from Illinois Policy blamed the state constitution’s use of the word “estimated.” A balanced budget in Illinois is one that “shall not exceed funds estimated by the General Assembly during that year.”

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE