Each Illinois household would have to pay an additional $1,125 more in taxes each year, on average, under the Senate’s tax-hike plan.

The substantial hike in Northern Illinois’ cost of electricity beginning next month is just the beginning of the increases for years to come.

The shrinking of the middle class has come as the middle-income jobs that used to form its bedrock have eroded. In 1980, nearly 20 percent of middle-income heads of household were working in office and administrative support, and that declined to 15 percent by 2015. The sharpest decline has been in production, which includes manufacturing.

Do governments in weak financial condition exhibit unclear writing in their annual financial reports, compared to governments in relatively good condition? Illinois has dug a significantly worse financial hole for itself than Indiana. Coincidentally, or not, the latest letter of transmittal for Illinois shows a higher passive verb frequency and a higher comma/sentence ratio than for Indiana.

A downgrade to junk would mean Illinois faces termination events on some swaps tied to $600 million of floating-rate paper while any rating cut would raise its interest fees.

From a fixed income money manager: “I project this bankruptcy will become the template for all the cities, counties and a few states whose budgets, unfunded pension and health care liabilities are out of control. As a matter of fact, many of us in Bondland have a new word: Illi-Rico. That’s right. Illinois, the state that is $14 billion in arrears paying its bills, two years without a budget, with under funded pensions like you wouldn’t believe.”