NEWS: Illinois’ credit rating downgraded; state drops to worst in the nation

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SUNDAY, JAN 27, 2013| 5 comments

Illinoisâ€™ credit rating downgraded; state drops to worst in the nation

A warning came Saturday morning from state treasurer Dan Rutherford (R) IL State Treasurer. The Standard and Poorâ€™s downgrade from A to A-minus puts Illinois last on the listâ€“ and means a higher cost to borrow money.

On Wednesday, the state will issue $500 million in new bonds to pay for roads and other transportation projects. Rutherford says the credit downgrade will cost taxpayers an additional $95 million in interest,

When compared to a perfect triple-a bond rating enjoyed by other11 states including neighboring Indiana, Iowa and Missouri.

â€œOur problem in Illinois is that we have not substantively and fairly addressed the state public pension issue.â€ ...

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· Page 1 · Found: 5 user comment(s)

1/30/13 2:40 PM

Jim Lincoln

| Nebraska

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Actually, Mike of N.Y., you can say Ill. is non-partisan! The former Demo governor is in jail also. Illinois had the interesting position of having two ex-governors in jail at once. Too bad they weren't in the same prison, think of what fun they could have had, exchanging notes. Anyway, Ex-Illinois Gov. George Ryan released from prison - Businessweek.

1/30/13 2:26 PM

Mike

| New York

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Angela Wittman wrote:
Let's not forget why the Dem's have been and are in charge of Illinois... Former GOP Gov. George Ryan was released from prison today for corruption crimes and will now reside in a halfway house. Plus, our GOP chairman supports gay marriage... My advice is for downstate to secede from Chicago.

It's good to know they at least jail GOP crooks. Now on to the Dems, yes?

1/30/13 2:02 PM

Angela Wittman

| Southern Illinois

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Let's not forget why the Dem's have been and are in charge of Illinois... Former GOP Gov. George Ryan was released from prison today for corruption crimes and will now reside in a halfway house. Plus, our GOP chairman supports gay marriage... My advice is for downstate to secede from Chicago.

1/28/13 6:41 PM

Unprofitable Servant

| Georgia

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This what happens when you have corrupt liberal Democrats in charge of the state politics.

1/27/13 4:27 PM

Jim Lincoln

| Nebraska

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Rutherford also said, â€œIllinois is a very good place and we can turn this place aroundâ€“ ..." But even as some the people who commented on the article, he must have forgot about Chicago!

Perhaps they can turn Chicago into a city-state and separate it from Ill.

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