Frerichs cited threats from Moody's that a failure to pass a budget at month's end, would bring the ultimate credit downgrade and he outlined the consequences.

 

 

Frerichs accused Governor Rauner of campaigning and not governing. He also warned a credit downgrade could bring new nightmares from the Blagojevich years.

 

 

Deputy Governor Leslie Munger released a statement. "The fact is that the Treasurer spent years in Springfield voting for the very tax hikes and borrowing that have landed us in this place. Instead of holding press conferences, it would be helpful if he would encourage members of his party to work with the Governor on real change to get our state back on track."