The New CS Board

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How long before Illinois defaults ? -

Illinois To Borrow Another $2 BIllion From The Fed, Only State To Do So : https://www.zerohedge.com/markets/illinois-borrow-another-2-billion-fed-only-state-do-so

Excerpt:
The state’s budget hole in 2021 is reportedly at $4 billion, while its unpaid bills currently total $7 billion. That’s on top of a Moody’s-estimated $261 billion shortfall for Illinois’ five state-run pension plans, and $56 billion in unfunded state retiree health insurance obligations.

All three agencies rate Illinois just one notch above junk and all have a negative outlook on the state. In fact, Illinois bonds have already been trading at junk-level interest rates for some time.