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Wednesday, June 28, 2017

How Bad is the Crisis in Illinois? $14.6B in Unpaid Bills

http://www.foxbusiness.com/features/2017/06/27/how-bad-is-crisis-in-illinois-it-has-14-6-2.html

This is what happens when a major American state lets its bills stack up for two years.
Hospitals, doctors and dentists don't get paid for hundreds of millions of dollars of patient care. Social-service agencies help fewer people. Public universities and the towns that surround them suffer. The state's bond rating falls to near junk status. People move out.
A standoff in Illinois between Republican Governor Bruce Rauner and Democratic Speaker of the House Michael Madigan over spending and term limits has left Illinois without a budget for two years. State workers and some others are still getting paid because of court orders and other stopgap measures, but bills for many others are piling up.

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