IL treasurer Rutherford says Illinois on "verge of a financial disaster"

Marathon Pundit with Rutherford

Andrea Shea King talked about this story on her BlogTalkRadio last night; I have some catching up to do. Illinois Treasurer Dan Rutherford says the Land of Lincoln is on "the verge of a financial disaster." The Chenoa Republican says that Illinois' massive debt amounts to $10,000 per household.

But Governor Pat Quinn, who just engineered a massive tax hike, wants to borrow billions to pay old bills. Illinois' bond debt has quadrupled, Rutherford says, in the last ten years, and now totals $45 billion.

As for more borrowing, Rutherford says, "If I need to send letters to the rating companies to tell them the treasurer of Illinois is opposed to more borrowing, I'm going to do that."

Wow.

Related post:

Gov. Quinn Pro Quo: Pat Quinn's public-sector union cash, part four

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