Illinois U.S. Sen. Mark Kirk has released a video about the recent downgrade of the state’s credit rating. It’s the first video the Republican senator has released that isn’t about his recovery from the stroke he suffered earlier this year.
Another issue hung over the state's head is its pensions; more money was promised than available to distribute. But, a new investigation from the Better Government Association took a closer look at one group that continued to make out nicely upon retirement.
Illinois officials say this week’s bond sale went better than expected, but traders say the state is still paying a higher interest rate than any other state in the country.Illinois bonds are rated the worst in the country by Moody’s – reflecting the state’s inability to pay
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.
Former Chicago police Cmdr. Jon Burge will get to keep his public pension benefits, despite a federal conviction for lying about the torture of criminal suspects, a police pension board voted Thursday.