Being Broke Costs State $550 Million
(Chicago Sun Times) — The state’s miserable bond rating has driven up borrowing costs for state government by more than $500 million since last year, a government watchdog group says.
The nonpartisan, Chicago-based Civic Federation analyzed the near-record borrowing that the state has undertaken since last September and looked at similar borrowing during the same period in other states that have higher bond ratings than Illinois.
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