Illinois is proud to be first in the nation in horseradish production. We are second in corn and soybeans, and fourth in hogs.
An impressive ranking to say the least. Now, Standard and Poors has given Illinois another grand distinction.
The Land of Lincoln now has the worst credit rating of any state in the nation:
llinois’ credit rating has taken another hit. Standard & Poor’s Ratings Service downgraded the state from an “A” rating to “A-minus”, making it the worst in the country.
The New York ratings firm’s ranking means taxpayers may have to pay tens of millions of dollars more in interest when the state borrows money for roads and other projects.
The downgrade is the latest fallout over the $96.8 billion debt to five state pension systems.
The downgrade now ties Illinois with California, but California has a positive outlook.
Illinois’ fragile overall financial status netted it a negative outlook, putting it behind California overall.
The ratings came out now because Illinois plans to issue $500 million in bonds within days.
Finally…we beat California at something. We Illinoisans have always had an inferiority complex when we compare ourselves to New York and California. This move by S&P should alleviate our feelings of inadequacy — at least temporarily. After all, California is run by Jerry Brown and his unpredictability cannot be underestimated. He is liable to do something incredibly stupid and put California right back on top when it comes to the worst credit rating of any state.
Our next goal should be to overcome our disappointing third place finish in the most politically corrupt state rankings and surge by California and New York to achieve victory in that category as well.
– more corrupt, but the Machine protects pols from prosecution.
You forgot to mention that we lead in homicides too. At the current run rate we’ll break last year’s total. Take that California! We’re number 1! Go team!! Here’s the stats: bit.ly/10Z36Yh
Yup, that’s where the so called president learned all he knows about economics and budgeting.
I’m sure Obama pal Rahm-bo Emanuel has nothing to do with this.
Democrats put the Ill in Illinois.
Out here in the periphery, we is stoned, immaculate.
We’ve got a ten billion dollar bullet train to nowhere, beat that.
All of Crook County should be ring-fenced and its inhabitants forcibly and permanently deported to the Chernobyl exclusion zone. That includes the WH squatters. Worthless, corrupt bastards, the lot of them. Their exit would be a classic example of “addition by subtraction.”
If that happened, Illville might, just might, one day be welcomed back into the United States of America. Right now Canada wouldn’t accept it if we offered to GIVE it to them free of charge!
Oh, and screw Cal, NY and Mass too. I’m going to laugh hard when they collapse because they so obviously have no one to blame but the crooked pols THEY elected.
You won’t be laughing because you will be bailing them out with your hard earned money.
I was born in Chicago, grew up in the Chicago suburbs, went to school at the University of Illinois, but got the hell out of there as soon as I graduated in 1980. When recruiters asked what regions I was interested in I told them “anywhere but Chicago.” Even in my early 20′s I knew it was a rotten place to live. Everything that has happened since has just reinforced that. How sad for a once great state.
As a Chicagoan, I wasn’t surprised to see the headline that Scott Walker’s Wisconsin is looking at a half-billion-dollar surplus while Illinois continues to circle the drain.
Unfortunately my scary-smart 17 year old son wants to stay in Illinois and start a business (rather than go to college–maybe the best financial decision of his life) but I try to explain to him the nightmare of regulations and corruption he’ll deal with. Sigh, he’ll learn.
Jim,
I would advise you to strongly encourage your son to look at business opportunities in some other location than one of the top three business hostile states in the country. For example Texas has low business taxes, and a productive workforce. If I was looking to create a new start-up company, then I would certainly look for opportunities there.
Don’t worry, Illinois, Crazyfornia isn’t far vehind you.
I serve as Village Administrator for a small town in Ohio. At AA- our bond rating is one full grade better than the state of Illinois!
That’s what 50 years of Democratic rule and a cozy relationship with organized crime gets you. Hey, wait, where is ObamaRx from again?
I am sure Jerry Brown and the Democratic super majority is working hard to get back to the number 1 spot.
And also don’t worry too much about it. I am sure the Obama administration will clamp down on these greedy credit eating agency soon.
Wait, California has a positive outlook?
How?
What’s funny from this Californian’s perspective is hearing Illinois Democrats continuously mock Gov. Scott Walker of Wisconsin and Gov. Perry of Texas, as thousands of people and businesses flock each week to their states from states like Illinois.