CHICAGO — Illinois Gov. Pat Quinn’s proposed $52 billion fiscal 2011 budget relies too heavily on borrowing, leaves too many bills unpaid, and will only aggravate the state’s fiscal crisis, a Chicago-based government watchdog organization said yesterday in announcing its opposition to the spending plan.

The Civic Federation slammed Quinn’s plan to privately place $3.7 billion of pension notes, securitize the state’s tobacco settlement payments to raise $1 billion, and borrow $1 billion from non-general fund accounts.

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