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Report details threat to future Illinois taxpayers posed by excessive borrowing

(The Center Square) – A report shows the state of Illinois has one of the largest debt liabilities in the country. The American Legislative Exchange Council, or ALEC, released its annual State Bonded Obligations publica. ....

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Analysis rates Illinois poorly for bond debt

Normal, IL, USA / www.cities929.com
Jul 22, 2021 | 4:36 PM
(The Center Square) – A new analysis by the American Legislative Exchange Council shows Illinois is one of the worst states in the country with bond debt.
In its annual State Bonded Obligations, 2020, the ALEC Center for State Fiscal Reform analyzes each state’s level of debt and features policy solutions to address the root of state debt problems: government spending.
Total state bond debt for all 50 states exceeds $1.25 trillion dollars, with Illinois and 9 other states accounting for 64%, or $809 billion of the total.
The report ranks Illinois 47th in the country with over $76 billion in total bonded obligations. That is compared to the top state in the ranking, Wyoming, with only $38 million in total bonded obligations. Only Texas, New York and California have more total bonded obligations than Illinois. ....

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