Rating agency expects lawmakers to revisit pandemic budget as state teeters on ‘junk’ status – Center Square

Public finance watchdog Wirepoints President Ted Dabrowski said leeway during a crisis is fair, but he said there was nothing in the budget to change state spending practices or address structural deficits. “We’re continuing the same path we’ve been on which is the reason why we’re just one notch away from junk and I wouldn’t be surprised if we’re the first junk-rated state in the country."
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ConcernedExpat
6 years ago

This budget really should be getting more attention in the media. It is quite literally the same as the teenager who continues to spend on a credit card hoping and praying that at month end when the bill comes mommy and daddy will pick up the tab. I suspect this is how JB Pritzker grew up so for him this is no biggie but for the rest of us in the state this is beyond irresponsible.

ConcernedExpat
6 years ago
Reply to  ConcernedExpat

Also, rest assured the ratings agencies are giving Illinois a pass on this years budget given the pandemic but you can bet when this is up for review next year it is downgrade city to junktown. I think JB will be riding his golden parachute else where and we will all be left holding the bag! We will have the fun distinction of having the worst financial profile of a state likely since the Confederacy.

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