By Associated Press
Chicago, IL – ILLINOIS GOVERNOR ROD BLAGOJEVICH IS CALLING A SPECIAL SESSION ON THE STATE'S HUGE BUDGET PROBLEM.
BLAGOJEVICH TODAY CALLED FOR LEGISLATORS TO RETURN TO SPRINGFIELD NEXT WEEK, JULY 9TH AND 10TH, TO WORK OUT A BUDGET FOR THE FISCAL YEAR THAT'S ALREADY STARTED.
THE GOVERNOR SAYS IF THAT DOESN'T HAPPEN...THERE COULD BE DIRE CONSEQUENCES.
LEGISLATORS HAVE APPROVED A BUDGET THAT WOULD SPEND FAR MORE THAN STATE GOVERNMENT WILL TAKE IN. BLAGOJEVICH ESTIMATES THE DEFICIT IS TWO BILLION DOLLARS.
HE WANTS LEGISLATORS TO APPROVE SEVERAL MEASURES TO CUT COSTS AND RAISE REVENUE. THEY INCLUDE TAKING MONEY FROM SPECIAL FUNDS AND USING A COMPLEX BORROWING PLAN TO CUT PENSION COSTS.
