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Illinois' Borrowing Bonanza
from the Chicago Tribune
Facing both an election and the politically unpalatable prospects of raising taxes or cutting social programs, Gov. Pat Quinn and lawmakers increasingly have turned to borrowing as a quick fix and are on track to rack up more than $6.5 billion in loans to keep the state afloat. For critics, borrowing has become a form of financial denial for politicians, a game of kick the can in which state leaders put off making tough decisions in hopes of better times ahead. More

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