Illinois Pension Deal Again Proves Elusive - WSJ.com: "Democrats in Illinois hold large majorities in the House and Senate, making the pension fight mostly an intraparty clash. Mr. Quinn has warned that if the state fails to act it could see further downgrades to its credit rating, which is already the lowest among U.S. states, according to Standard & Poor's Ratings Services and Moody's Investors Service. Illinois faces a backlog of billions of dollars in unpaid bills, and while it continues to have access to debt markets, it has had to pay a premium to sell some of its bonds."
Hogs at the Trough.
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