Good News, California!

Illinois’ credit rating downgraded; state drops to worst in the nation.

Chicago Going as Bankrupt as California

MishIllinois Doesn’t Pay Bills; Crisis Pushes Businesses to Edge of Bankruptcy:

Illinois isn’t bothering with the formality of issuing IOUs, as California did last year. It simply doesn’t pay. Right now, $4.4 billion worth of bills, some dating back to October, are sitting in the Illinois comptroller’s office waiting to be paid someday.

Shawnee Development, for instance, is waiting on about $380,000 in back payments, officials say. That amounts to one-quarter of the council’s budget for senior care in seven southern counties.

Illinois’ deadbeat reputation has created some embarrassing situations. A supplier refused to sell bullets to the Department of Corrections unless it got paid in advance. Legislators have gotten eviction notices for their district offices because the state wasn’t paying rent. One legislator said he had to use campaign funds to pay the telephone bill after service was cut off at his office.