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Author Topic: Congrats to the Great Blue State of Illinois! Back to Topics
Guitar_Man

Champion Author
Colorado Springs

Posts:8,661
Points:128,850
Joined:Nov 2006
Message Posted: Jan 26, 2013 4:13:34 PM

Congrats to Illinois...now the state with the WORST credit rating in the union! (A minus)

(Maybe the just need to raise taxes, again, huh?)

Anybody care to guess when the US Credit rating will, once again, be downgraded? (I'm predicting later this year....or next if it takes that long to hit $18 Trillion in debt.)

Illinois’ credit rating downgraded; state drops to worst in the nation
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teacher_tim
Champion Author Maryland

Posts:18,008
Points:783,245
Joined:May 2004
Message Posted: Jan 29, 2013 12:32:24 PM

Illinois has the worst credit rating of any of the 50 states. You can defend, obfuscate or deride as you see fit. The fact remains the same. Credit agencies base the rating on the likelihood that debt will be repaid based on past and current policies, not whether it's a blue or red state.
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mudtoe
Champion Author Cincinnati

Posts:12,422
Points:1,623,165
Joined:May 2008
Message Posted: Jan 28, 2013 7:55:26 PM

Maybe Rahm Emanuel will try to strong arm the rating agencies like he's trying to do to the gun manufactures.


mudtoe
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YDraigGoch
Champion Author Illinois

Posts:7,346
Points:86,435
Joined:Aug 2005
Message Posted: Jan 28, 2013 7:33:03 PM

Actually, if Illinois had raised taxes like New York did, they would not be so far in debt, if at all.

But in all fairness, the depression has left all funds with absolutely pitiful outlays. .2% interest on a fund that once paid 6% is certainly going to run up debt.

Unless, of course, you are suggesting that the state would be more pleasing to your tastes if they simply told all the retirees their contracted retirement is no longer valid. Thanks for all your work, now go p--- off? Is THAT what you are suggesting?

On the other hand, the stock market is doing just fine. You know, the place where rich people put money? Does that mean anything to you? Rich get the gold mine. Working people get the shaft?

Oh, I forgot. You are speaking for the right. There is no way you could understand that.

Right?
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AC-302
Champion Author Los Angeles

Posts:29,063
Points:3,212,460
Joined:Aug 2004
Message Posted: Jan 27, 2013 9:10:42 PM

I think any lower, and that would be junk bond status! I can't wait for my own state - California, the land of fruits and nuts, to be downgraded to junk status. It ought to happen before that idiot Jerry Brown gets out of office. Maybe it will make our fool liberals to think first before spending more.
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