- Sat Jan 26, 2013 2:48 pm
#17867
Yep Obama land,the liberal utopia of what all States should be. What Obama did for his State he's rapidly doing to the other 56 States he's visited.
Illinois’ credit rating downgraded; state drops to worst in the nation. Illinois’ credit rating has taken another hit. Standard & Poor’s Ratings Service downgraded the state from an “A” rating to “A-minus”, making it the worst in the country.
The New York ratings firm’s ranking means taxpayers may have to pay tens of millions of dollars more in interest when the state borrows money for roads and other projects. The downgrade is the latest fallout over the $96.8 billion debt to five state pension systems. The downgrade ranks Illinois 1 for poor credit followed by California. Both States have made billions more in obligations to union pensions and spending than they can repay.
California has back union pensions with State property, the California teachers' union has already taken possession of two State Parks which they intend to sell to private investors as a means of keeping their pensions solvent, at least for the time being.
