Hultgren: Illinois Is Quickly Nearing The Point Of Fiscal No Return

From the office of Rep. Randy Hultgren (R, Illinois 14th District)…

Geneva, IL – U.S. Rep. Randy Hultgren (IL-14) today released the following statement regarding the new report from the Civic Federation of Chicago on Illinois’ budget situation.

“Today’s report from the Civic Federation – that the state of Illinois will have $34.8 billion in unpaid bills within five years – is a clear warning sign,” said Hultgren. “When every resident owes $2,500, Illinois is quickly nearing the point of fiscal no return.”

The report also noted that Illinois would amass $28 billion in unpaid bills even if Governor Pat Quinn’s job-crushing tax hike were made permanent. In addition, the report highlights the role of pension liabilities and Medicaid in driving the state’s fiscal crisis.

“Beyond clarifying the state’s dire fiscal situation, the Civic Federation also underscores what clear-thinking individuals have long known: Springfield cannot tax its way back to prosperity. Rather, the General Assembly must move quickly to make the tough decisions needed to ensure a prosperous future for all Illinoisans.

“Medicaid’s role as a fountain of red ink is especially concerning. Under ObamaCare, the state’s Medicaid liabilities will grow significantly, yet Governor Quinn and others have failed to honestly estimate how much this increase will cost taxpayers.”

Rep. Hultgren previously served for twelve years in the General Assembly, where he fought for government accountability, lower taxes, and less spending.

http://hultgren.house.gov/

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