“The ratings agencies are set to downgrade Illinois to junk if they don’t see a plan.” – Ted on with Tom Miller on Newsradio WJPF

Ted was on with Tom Miller this week talking about the state of Illinois’ fiscal crisis now that the progressive tax failed and a federal bailout seems less likely. The rundown: Illinois has $7 billion in unpaid bills, a budget $6 billion in the red, 5-year projected deficits of $4 billion each year, over $300 billion in state retirements debt and is rated just one notch from junk status.

 

Read more about Illinois fiscal crisis:

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Ginger
3 years ago

Never gonna make up the revenue shutting down businesses. Pritzker can’t be that dumb. I’m starting to think he’s using the virus as a tool to get the feds to bail him out.

Thee Jabroni
3 years ago
Reply to  Ginger

Yea,and most of the “bailout” money will go straight to the illinois pension system-those poor state retirees really need their 6 figure retirement money at the behest of us commoners.

NoHope4Illinois
3 years ago

If my company thought you were a poor credit risk, we put your account on ‘Cash in Advance’ if you wanted something. Companies need to do the same with Illinois – chances are less and less you will be paid.

Thee Jabroni
3 years ago

Ahhh,the downward spiral continues,cant wait for the day that illinois is unable to pay all these exhorbinant pension plans,that day is a comin!

Roger K
3 years ago
Reply to  Thee Jabroni

My guess – before that happens – health care providers will stop see State retires due poor reimbursement and large outstanding balance due from the state – the same reason some Doctors will not see Medicaid patient.

madigans_spooge
3 years ago

IL is being downgraded to junk because of institutional racism at the ratings agencies. It is racist to deny Chicago a loan.

Marko
3 years ago

Dont give them any ideas!

David F
3 years ago

Stupid is a race now?

Riverbender
3 years ago

I have been hearing about rating agencies’ cuts for years. They need to be honest for a change and rate the bonds as the junk that they are. The agencies’, by not rating the bonds as the junk that they are, continue on the problem that they are an integral part of.

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A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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