Illinois Rated "Worst State Debt Disaster"
Forbes has created an interactive map where you can find out exactly what sort of mess your state is in. The state of Utah, for instance, has been rated the best with a debt per capita of just $447 with an unfunded pension cost of $7,272. Moody's has rated the Beehive State at Aaa and Standard & Poors gives them an AAA. Meanwhile, Illinois has been rated the worst state debt disaster. Illinois' debt per capita is $1,877 and it's unfunded pension obligations stands at a whopping $17,230. Moody rates Illinois an A1 and the S&P rating is a dismal AA-. That surely will make borrowing a tad more difficult.
Forbes State Debt Map
Maybe it is time for a mass exodus. What the hell, businesses have been fleeing the state for years, in spite of whatever money losing deals Governor Quinn has granted to bring business into the state. Then again, this is the same governor who "confuses layoff recalls with new jobs." Now that Bill Brady has conceded the election to the now elected accidental governor, Michael Madigan and John Cullerton are ready to spring that giant new tax increase on Illinois Taxpayers. Of course, we all knew that would happen and voters still supported these yokels whose only solution to debt is more taxation.
REST AT http://www.chicagonow.com/blogs/chicago-political-commentary/2010/11/illinois-rated-worst-state-debt-disaster.html
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