“Now The Pain Begins”: S&P, Moodys Cut Illinois To Near Junk, Lowest Ever Rating For A U.S. State

“Now The Pain Begins”: S&P, Moodys Cut Illinois To Near Junk, Lowest Ever Rating For A U.S. State:

“We’re going to start to see some real pain now,” Senate President John Cullerton told reporters in Springfield on Wednesday after both S&P and Moody’s downgraded Illinois to just above junk, the lowest ever rating for a US state. “We’re going to start to see downgrades. We don’t have any funding for schools. We don’t have any funding for higher end and a bunch of social programs.”

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