Local News

Governor Defends Bond Sale

Governor Bruce Rauner is defending a recent bond sale he initiated after a report from a state university says the state received millions less than it could have because of the state’s poor financial status.

A report from the University of Illinois’ Institute of Government and Public Affairs released this week says Illinois’ poor financial condition was one reason the state got $53 million less from last week's bond sale than it would have gotten from a similar sale 10 years ago. Governor Rauner defended the bond sale earlier this week saying he hears a different message from the market.

[audio:1221681730-BONDS1.mp3] [/audio]

Critics of bond sales at the Cato Institute have said that governments should fund programs, even big capital projects, with current funds, not putting future generations into debt through bond sales. IGPA’s report says the estimated financial condition penalty could grow to more than $400 million per year when future capital needs are included.

Townhall Top of the Hour News

Local Weather - Sponsored By:

CLINTON WEATHER

Local News

DeWittDN on Facebook