Wirepoints’ Mark Glennon on AM560’s Morning Answer: Illinois Budget’s New Taxes Face Serious Constitutional Challenges
June 12, 2026
2 Comments
Audio and summary linked here.
-- Connecting the dots between our economy, government and business --
A mess of uncertainty and litigation is sure to follow.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
Moderating Debt? What!! I guess Fitch can’t do basic math on long term liabilities like unfunded pensions, health care for retiree obligations, etc. Oh, but if you keep in mind that the City of Chicago pays for these compromised opinions, it makes more sense. Is Fitch really gong to tell the ugly truth about the guy who sends them the pay check? Unlikely would you say?
Hilarious. Simply hilarious. Fitch must be really hard up for work. If you don’t know how these rating agencies work, watch The Big Short.
“”The upgrade was “driven by a decline in the city’s long-term liability burden stemming from steady growth in the economic resource base and improved debt management practices,” Fitch wrote in the report.”
Followed by:
“His $16.6 billion spending plan for 2024, unveiled last week, includes $187 million more in revenue than projected as recently as last month.”
Unbelievable….
There’s a word for the rating agencies: Whores.