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Editorial: Budget numbers add to disturbing trend for state
Journal-Courier staff, dbauer@myjournalcourier.com
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The coronavirus pandemic has been a disaster for the administration of Gov. J.B. Pritzker, who probably never imagined the public-health crisis he would confront after becoming this state’s chief executive.
As it continues to devastate the state, the coronavirus is exacerbating its severe financial woes while at the same time distracting public attention from the fallout of its bad habit of spending far more money than it has available.
To cover a massive shortfall, Pritzker announced that the state will borrow another $2 billion from the Federal Reserve’s Municipal Liquidity Facility. That’s on top of borrowing $1.2 billion from the fund in June.