From The Resurgent: Illinois May Be On The Verge Of Bankruptcy

It’s tough to fathom the idea of an entire state going bankrupt, but it looks like we may see it happen in Illinois, thanks to the state government’s inability to agree on a budget.

Unpaid bills to the tune of $14.7 billion, the failure to pass a bill to fund schools, and an astonishing $130 billion in unpaid pensions have helped contribute to the state’s financial mess. The state’s budget crisis led to Republican governor Rauner’s defeat of incumbent Democrat Dan Quinn in 2014, and it’s only gotten worse – to the point that Rauner has compared his state to a “banana republic.”

Continue reading at The Resurgent