Budget Crunch Leaves States in the Red

Publication: NBC Nightly News

Author: John Yang

03/10/2010 - [Transcript] Illinois Gov. Pat Quinn, facing a $13 billion budget deficit, challenged lawmakers to raise taxes or face a 17 percent cut in school funding.

The Pew Center on the States says Illinois is among the 10 most financially stressed states in the country. Nationwide, states have faced $304 billion in red ink since the recession began.

To watch the video, "Budget Crunch Leaves States in the Red," visit msnbc.com.

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