Comptroller Munger (R) on Illinois’ Impending Fiscal Cliff

From Chicago:  State Comptroller Leslie Munger briefs reporters on her efforts to make what payments she can before July 1, when the spending authority for the current fiscal year ends for a number of programs.  As Comp Munger explains — even when she has some money to pay bills, she won’t be able to make payments to schools and many other organizations, once the new FY begins on July 1.   Comptroller Munger warns it is imperative to pass a budget before July, if we are to avoid great harm being done to schools, businesses and social service agencies… harm that in some cases, will be irreparable.