Illinois is Approaching 'Point Of Fiscal No Return,' Says Hultgren

A report released Monday saying Illinois will quadruple what it owes in five years is a warning that the state could soon reach a "point of fiscal no return," said one Illinois lawmaker.

In a statement released the same day, Rep. Randy Hultgren (R-14) said the Civic Federation's report that the state will have $34.8 billion in unpaid bills within the next five years is a "warning sign."

“When every resident owes $2,500, Illinois is quickly nearing the point of fiscal no return," Hultgren said.

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The report, which comes from a group that has criticized how Illinois has handled its finances, also projects the state's operating deficit to swell to $3.2 billion from the current $508 million, according to the Huffington Post.

Gov. Quinn will make his State of the State address on Wednesday and has told a Rockford newspaper his talk will focus on jobs. However, speech about state's budget isn't expected until February, a talk in which residents and lawmakers hope to hear the Governor's plans for dealing with mounting deficit and unpaid bills.

Hultgren's words on the dire nature of Illinois fiscal future echoed some of the same conclusions reached by the Civic Federation. 

“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," Hultgren said Monday. "Rather, the General Assembly must move quickly to make the tough decisions needed to ensure a prosperous future for all Illinoisans.

Hultgren's 14th District covers part of St. Charles.