Local News

State Treasurer Dan Rutherford says Illinoisans could be on the hook for tens of millions of dollars in interest payments, thanks to the state's poor credit rating. 
[audio:rddTreasBond1.mp3]A Word From Rutherford[/audio]

Moody's investors gave the state the worst credit rating in the nation, citing its failure to deal with unpaid bills and underfunded pension systems.  Rutherford blames habitual borrowing for the poor rating.  He says he wants to work with lawmakers to bring the state out of the red but he will not support any additional borrowing.  He encourages lawmakers to find ways to cut spending.

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