CHICAGO
03/18/2010 05:12 am ET Updated May 25, 2011

State Budget Shortfall Pegged At $12.8 Billion

If there's one thing observers of Illinois politics can agree on, it's that next year's state budget deficit is going to be extraordinary. Not only are billions in federal stimulus money scheduled to dry up, but state officials will soon have to pay out $3.5 billion in pension notes and cover $3.9 billion in unpaid obligations from the current fiscal year.

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