A warning came Saturday morning from state treasurer Dan Rutherford
(R) IL State Treasurer. The Standard and Poor’s downgrade from A to
A-minus puts Illinois last on the list– and means a higher cost to
borrow money.
On Wednesday, the state will issue $500 million in new bonds to pay
for roads and other transportation projects. Rutherford says the credit
downgrade will cost taxpayers an additional $95 million in interest,
When compared to a perfect triple-a bond rating enjoyed by other11 states including neighboring Indiana, Iowa and Missouri.“Our problem in Illinois is that we have not substantively and fairly addressed the state public pension issue.”
No comments:
Post a Comment