The governor is not bothered by a new report on the dire condition of state finances. Gov. Pat Quinn says there’s nothing shocking in the Report of the State Budget Crisis Task Force. He says he knows the state’s financial condition is dire, and he has been addressing it with a tax increase and budget cuts, $1 billion this year, and a restructuring of Medicare.
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“And we have more to do. We have to reform the pension system, and keep on moving. We have to do things for the benefit of the common good,” he said. The report shows a $3 billion budget deficit now, and projects a deficit of $13 billion by 2022 if the trajectory of spending and revenue are not changed. Quinn says the authors recognized the state’s need to reduce expenses that are not high-priority.