Illinois ends fiscal year in the black with slight surplus

[OyCrumbler]

Originally Posted by madpaddy

It sounds like a positive step, but has the elephant in the room (i.e. massive pension fund shortfalls for public employees) been addressed? Last I knew, the shortage was over $100 billion-with-a-"B."

It's still there. That's a massive hole that was dug and it will take time to get out of it, but now the state has for the most part stopped acting so erratically and at times as if this didn't exist. It's getting its financial house in order and part of that is actually structuring a way of dealing with it that's reasonable.

Originally Posted by flamadiddle

must be taxes from all that marijuana

Probably doesn't hurt though I think Missouri having (surprisingly?) it legal this year might make a dent in that.

Originally Posted by Mathguy

One way to cut through all the noise and BS is to go directly to the states bond ratings.

THe second chart shows the historic ratings and while it is still at the bottom, it's better than it has been.

https://en.wikipedia.org/wiki/List_o..._credit_rating

It's been even better now since the end of that chart since it ends at 2021. The S&P Rating is now at A-. This is a remarkable turnaround given where it was.

https://www.capitolnewsillinois.com/...than-two-years

[skeddy]

a balanced budget just places you further behind..


https://www.usdebtclock.org/state-de...ebt-clock.html

[UniversalTraveler]

The govt will be continuing to dig nice and deep into your pocket some tax time to be sure. Don't get too smug about such reports of potential solvency. That's a couple generations away at best, and even that is in doubt.