Monday, October 19, 2015

ILL-inois suffers another debt downgrade

After twelve years of misrule and fiscal malfeasance at the hand of two Chicago Democrats, Rod Blagojevich and Pat Quinn, as Illinois governor, voters chose Republican reformer Bruce Rauner to right the sinking ship. But because of grotesque gerrymandering by two other Chicago Dems, House Speaker Michael Madigan and Senate President John Cullerton, Rauner faces Democratic supermajorities in the General Assembly. They are holding the budget hostage because they refuse to agree to Rauner's reform proposals, which include redistricting reform.

The petulant game by the Democrats caused Fitch to downgrade Illinois' debt rating to BBB-plus--the lowest of the 50 states.

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