State cries poverty while spending more
I understand why some lenders may be reluctant to invest their money in Illinois when the state appears to be so deeply in debt.
But I fail to see why the state should appear to be a better financial risk if it attempts to balance its budget by swindling the people to whom it already owes money. This year the state is spending more money than ever, all the while crying that it's broke.
Perhaps the state, like our spendthrift cousin, should spend less, earn more and pay off its current obligations before worrying about getting a shiny new credit card.