We’re halfway through 2012, which means it’s that time of year when economists and investors like to take stock of the overall health of the economy.We may be three years out of an economic recession, but the U.S. economy continues to struggle.
The State of Illinois will find out this week how willing investors are to buy the state’s bonds, which are rated the lowest in the country by Moody’s. The state plans to sell $3.7 billion worth of bonds as early as tomorrow to make this year’s pension payment.
A possible income-tax hike in Illinois may have some taxpayers grumbling, but bond investors say it’s a good step. California is in terrible financial shape, but the bond-rating agency Moody’s says we are even worse. It rates Illinois bonds the lowest in the country.