Their credit rating could soon be considered “JUNK” status by the S&P rating agency. The “Land of Lincoln” is so deep in debt it barely could pass a budget. It had been three years since they had one! Now they are working on a 33% income tax increase, and, drum roll please, issuing SIX BILLION DOLLARS worth of NEW DEBT just to pay the bills, because the 3.9% interest they have to pay to sell these “investments” is less than the two million dollars a day they may face in late penalties if they don’t create MORE DEBT!
Does anyone believe there is a way out of this debt disaster? Our fifth-largest state is bankrupt!
Everyone needs to protect their savings with money insurance, stay tuned for articles that can teach you how it’s done!