Not the worse but perhaps a distant second place?
The O’conomy and the Emperor’s $17 Trillion debt is certainly the worst of all.
The Feds can print money to ease debt. We pay with inflation and poor investment returns. Illinois has to borrow money and pay to service the debt.
As a life-long (now -ex) Chicagoan, I am not optimistic that Rauner will make much difference. As a “moderate” he cares too much about what the newspapers say. They will relentlessly criticize any cuts in public employment and welfare spending. The problem will only get worse.
The state will declare bankruptcy in less than 10 years. You heard it here first.
True enough, but to have a state that is 100 billion in the hole is nothing to sneeze at. As much as people like to beat up on Michigan, it has a balanced budget amendment and its total debt is currently zero.
CC