A continuation of WirePoints analysis of the situation in Illinois:
2. Unpaid bills. In 2013, Illinois’ unpaid bills pile had already reached an embarrassingly high $9 billion – 25 percent of the annual budget – despite the record 67 percent income tax hike of 2011. In fact, Moody’s cited Illinois’ unpaid bills in its decision to downgrade the state in 2012.
For sure, the Rauner/Madigan impasse led to an absurd level of unpaid bills, but Illinois was already a deadbeat state way before Rauner. (See the impact on social service providers in number 13.)