Illinois May Layoff 13,000 Teachers and Staff, Borrow $4.7 Billion to Stay Afloat

The Chicago Tribune reports:

Gov. Pat Quinn on Tuesday unveiled a caustic budget plan that would borrow billions of dollars to stay afloat and push even more debt down the road, hoping to persuade leery lawmakers to instead raise taxes in an election year.

Quinn aides warned the plan would cost some 13,000 teachers and staff their jobs, cut off poor seniors from help in paying for costly prescriptions and shut down some health care programs for the indigent. But even after about $2 billion in cuts, the state would still be $11 billion in the hole.

No word from former Illinois State Senator Barack Obama on this one.