Illinois joins only one other state in having increasing deficits and that number has more than doubled in seven years. That’s according to the state’s Auditor General. A report published Wednesday for the fiscal year that ended June 2014 indicates the net position of state governmental activities continued to deteriorate and the deficit increased by one-point-three billion over the year.
The overall deficit approaches fifty-billion dollars. In the past seven years, Illinois’ deficit more than doubled from twenty-point-eight billion in fiscal year 2007 to forty-nine-point-two billion in fiscal year 2014. With the exception of several states that have not yet reported on their finances, the Auditor’s report puts Illinois and Massachusetts as the only two states in the country running deficits. Illinois has twenty-billion more in a net position deficit than Massachusetts, according to the report.