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Illinois Debt Takes Toll on Services, Study Finds
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Illinois has the worst credit rating of the 50 U.S. states. It has a public debt per capita of $9,624 including state and local borrowing, second only to New York. But much of the money is not available to rebuild roads, bridges and schools because of poor fiscal practices, says the report of the State Budget Crisis Task Force. It says "Illinois has been doing back flips on a high wire without a net."
The U.S. State Budget Crisis Task Force Report on Illinois's finances
01/05/2011
The task force led by Richard Ravitch and Paul Volcker has strong words for the dismal state of Illinois's finances describing the state's handling of its finances as an high-wire act without a safety net.
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Linked Articles
Illinois Debt Takes Toll on Services, Study Finds
New York Times 10/24/2012
Report Details Threats to States' Fiscal Health
Wall Street Journal 07/18/2012
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