As the fiscal year came to a close June 30, state financial officers issued their annual report on the state’s financial condition.
It’s not a pretty picture.
Though the report lags one year behind, it shows that the state is now in the worst financial condition of any state in the nation. As of June 30, 2011, our deficit of just under $44 billion easily topped runners up New Jersey ($34 billion) and California ($11 billion). The Land of Lincoln’s shortfall grew by 16.8 percent from the previous year, according to William Holland, auditor general.