By Jack Hellner, includes “The Illinois Constitution requires a balanced budget, yet Illinois has run up hundreds of billions in actual debt and unfunded pension and health liabilities. The reason federal, state, and local entities have so much debt and unfunded liabilities is that they essentially borrow to balance their budget. … The taxpayers are their least concern. … Fiscal watchdog Truth in Accounting crunched the numbers for Illinois and gave the state an F grade in its latest Financial State of the States report.”
Read the full article on: American Thinker