By Bill Cameron, WLS-AM 890 News
(SPRINGFIELD) — State government is now entering its third year without a budget and because of that, the state’s credit rating has taken an immediate hit.
Standard & Poors has downgraded the state’s bond rating to one level above junk status, BBB-. State Comptroller Susana Mendoza says it is the seventh downgrade in two-and-a-half years and could lead to a new pressure point.
“We may get to a point even as early as next week where our office … there will actually be more court orders than money to be able to pay for those court ordered mandated payment,” Mendoza said. “So we will effectively run out of any discretionary ability to help try and keep people alive.”
And by the end of the month, Mendoza says the state’s unpaid bills will reach $16 billion to 17 $billion without a budget.
Copyright 2017 WLS-AM News
