"This is simply swapping out one debt for another debt," said Adam Schuster of the Illinois Policy Institute. "They are essentially gambling that the interest rate will cause you to win on that bet." Illinois currently has the worst credit rating in the country, which results in high interest rates on these pension obligation bonds.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
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