This editorial puts into perspective the $551.3 million in extra debt service costs that Illinois taxpayers will pay due to recent downgrades to the State of Illinois’ credit ratings.
This article explores the effect that recent downgrades to the State of Illinois’ bond ratings will have on the State’s future debt service costs, as detailed in the Civic Federation’s “Cost of the Crisis” report.
This news article discusses the Civic Federation’s “Cost of the Crisis” report and the long-term effects of the State of Illinois’ borrowing.
This editorial discusses the finding in the Civic Federation’s “Cost of the Crisis” report that Illinois taxpayers will pay an additional $551.3 million in debt service due to recent downgrades in the State’s bond ratings.
Earlier this week the Institute for Illinois’ Fiscal Sustainability at the Civic Federation released a comparative analysis of the cost of the $9.6 billion in bonds the State of Illinois issued over the past year. The report estimated that the State might pay as much as $551.3 million in additional interest costs for only one year’s worth of borrowing because of its ongoing fiscal crisis and subsequent reductions in its bond rating. The analysis calculated the cost of the bonds sold by…
The Metropolitan Water Reclamation District recently announced that it is facing a $24 million budget deficit for FY2011. After hearing a report of the FY2011 budget and the grim financial projection at a study session meeting held on July 8, 2010, MWRD Commissioners requested a list of possible cost-cutting measures. MWRD Executive Director Richard Lanyon provided a preliminary report focusing on areas of potential cost-savings to the District during a subsequent study session on…
The Civic Federation’s “Cost of the Crisis” report is the focus of this article. The Federation says that because of the State of Illinois’ declining bond ratings, taxpayers may have to pay an additional $551.3 million in extra borrowing costs on recently secured debt.
In this blog post, Greg Hinz examines the Civic Federation’s “Cost of the Crisis” report that found Illinois’ declining bond ratings may cost the State $551.3 million in additional interest costs for debt issued between September 2009 and July 2010.
This news article discusses the Civic Federation’s “Cost of the Crisis” report. The article focuses on the report’s finding that because of the State of Illinois’ high cost of borrowing due to recent downgrades to its bond ratings, the State may have to pay an additional $551.3 million in debt service costs.
Don Wade and Roma interview Civic Federation President Laurence Msall about the Civic Federation’s “Cost of the Crisis” report. Mr. Msall said State of Illinois taxpayers will pay an additional $551.3 million more in debt service on bonds due to downgrades to the State’s credit ratings. To restore fiscal solvency, Mr. Msall says the State must make major cuts and balance the budget without taking out additional loans.
