Illinois borrowing penalty still three times higher than when Quinn took office

02/06/2014
It didn’t take long for Illinois’ spending machine to cram more debt down taxpayers’ throats. Only two months after signing a pension bill, Gov. Pat Quinn is borrowing yet another $1 billion to fund state construction projects. This will be the first large borrowing for Illinois since it passed Senate Bill 1, a pension fix...

TAGS: borrowing, capital project, debt, Pat Quinn, penalty borrowing rate, pensions

Illinois drowning in debt: $127 billion and counting

By Benjamin VanMetre
01/07/2014
Illinois is often used as the poster child for how not to run a state. Money-hungry politicians perpetuate the state’s spending problem with higher taxes and more borrowing. Meanwhile, the state’s tax base continues to erode as tapped-out families and businesses move to states with more opportunities and friendlier business environments. Illinois’ debt has grown...

TAGS: bonds, borrowing, debt, pensions