CHICAGO — Illinois lawmakers entered the homestretch of their annual regular session this week facing a crowded agenda topped by budget questions, including whether to use borrowing to pay down bills — a debate that prompted a threat from the treasurer to call investors and warn them against buying state bonds.

Gov. Pat Quinn’s original $52.7 billion all-funds 2012 budget proposal relied on $8.7 billion of borrowing to pay down a backlog of overdue bills, but it stalled over objections to its size and the establishment of what amounted to a line of credit to help cover operations.

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