What better way could there be to celebrate Obama’s legacy than bankrupting a bankrupt state for the greater glory of Barry?
Illinois now has the worst credit rating in the municipal bond market. Moody’s Investment Services pegs Illinois’ debt at Baa3, and it could further downgrade that credit rating later in 2018.
The State of Illinois incurred deficits reaching nearly $15 billion in 2017, and those deficits are projected to double to $30 billion in 2018. Illinois has also accumulated hundreds of billions in unfunded liabilities in public sector pension and health-care plans. This has exposed local jurisdictions to the risk of default or bankruptcy. In response, Illinois has issued large bailouts, further weakening the finances of the state’s government. The courts have exacerbated this problem by ruling the Illinois Constitution mandates state bailouts for public sector pension and health plans
Do you know what’s going to make it all better? A big, giant Obamaville!
Read the full story from Front Page Mag
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