CHICAGO — Facing a $13 billion deficit, Illinois Gov. Pat Quinn yesterday unveiled a $52 billion fiscal 2011 budget that cuts spending by $2.4 billion, relies on $4.7 billion in deficit borrowing, and leaves nearly $6 billion in bills unpaid.

The state’s embrace of the latter two actions to address $12 billion of red ink in the fiscal 2010 budget drove a round of downgrades. Analysts have warned of further action as the state remains pressured by a liquidity crisis, poor revenue performance, and failed legislative action to address its structural budget problems.

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