Skip to comments.Illinois’ credit rating downgraded; state drops to worst in the nation
Posted on 01/26/2013 9:47:57 AM PST by Perdogg
Illinois credit rating has taken another hit. Standard & Poors Ratings Service downgraded the state from an A rating to A-minus, making it the worst in the country.
(Excerpt) Read more at wgntv.com ...
Good. FU Rahm Emmanuel!!
They just need to apply Joe Biden’s solution to debt ... more borrowing and more spending.
Never let a good crisis go to waste, I wonder what he has planned to do?
I believe if you do the math, to make a $100 million paving job work...you’d have to figure in an extra $5 millon on top of the bond pay-back....because of your rating. Maybe it doesn’t matter to most folks in Illinois...but it means every single infrastructure job that you fund via bonds...means more taxes down the line in some fashion. Either you the business owner gets hit, or you the wealthy property owner, or you the company with a thousand employees.
The question I have...how would you ever get out of such a mess? If you chase your business operations off to Texas, and they won’t return...you end up looking like Paraguay in ten years...a third-world state.
Thank God the GOP controls the House..otherwise they’d be passing bills to have the federal govt “help out “ the states..
The cesspool that spawned Obama’s political career. What does that tell you? Now Obama wants to make Illinois dysfunctionality nationwide. I know 90% of Illinois Democrat criminality is in Chicago and the suburban and rural people cannot outvote that puss dripping sore
Nothing like keeping your head in the sand. The next line says the problem is debt to the state pension plans (which taxpayers are paying for).
IMO - it's all bullsh!t anyway!!
Yay, we won...the race to the bottom!
When Chicago collapses, they’ll be smelling the smoke all the way to Detroit.
hussein did such a good job in his home state that he moved up to the big time.
Land of Obama...Wisconsin and Indian to benefit from capital flight.
“you end up looking like Paraguay in ten years...a third-world state.”
If you’ve seen some pics of the sleazier inner city of Chicago..you’ll agree that city is almost there now. I just wish the downstate conservatives had more of a voice.
I read somewhere this means their rating is lower than some third world countries in Africa. Gotta get that info,,that’s just amazing..and believable!
The other two major credit rating firms, Moody’s Investors Service and Fitch Ratings, have Illinois rated at 50th and 49th, respectively, out of the 50 states.
Among the state’s fiscal dilemmas is a $96.8 billion shortfall with five state pension systems, the Tribune said.
I’m sure Jesse Jackson will address this soon.
Hahahaha. Meanwhile, back in Texas...
Or. Central California.