Tuesday, January 29, 2013

Illinois Credit Rating is Worst in the Nation

Illinois is a "state of denial" and keeps digging the hole deeper--

Illinois S&P Rating is Worst in the Nation - Northbrook, IL Patch: " . . . Standard & Poor’s rating services downgraded Illinois’ credit rating today to A-, with a negative outlook, making it the lowest rating of all 50 states. State Treasurer Dan Rutherford blamed the negative rating on inaction on the public pension system by Gov. Pat Quinn and the general assembly, at a press conference today. Illinois has a $96 billion pension deficit. Rutherford pointed out numerous instances in which the state had set a deadline to address pension reform and did not meet the deadline, which was followed by a downgrade in the state’s credit rating. . . . Rutherford said state leaders need to cut the budget and address pension reform."

What are the politicos in Illinois thinking? And why would the voters keep electing them?


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