Chicago Tribune

Illinois credit downgrade prompts delay of bond sale

12/31/2012
This morning Illinois was forced to delay a $500 million bond sale – essentially, borrowing $500 million to finance state government operations. The delay was due to a drop in lender confidence in Illinois’ credit worthiness.

TAGS: downgrade

Illinois can’t afford DCFS appropriation

12/31/2012
Paul Kersey Director of Labor Reform A state with $9 billion in unpaid bills and at least $96 billion in unfunded pension obligations cannot afford to overpay for anything, even wages for child protection workers. So while some lawmakers may want to grant the Department of Children and Family Services, or DCFS, with a supplemental...