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By Tim Jones and Brian Chappatta | Bloomberg – Apr 23, 2012 11:01 PM CT
Illinois residents, whose income taxes rose by a record last year to help close a budget deficit, are paying the price again for the state’s fiscal mismanagement.
With its pile of unpaid bills growing about 30 percent this year, the weakest pension-funding ratio among states and falling federal aid, Illinois and its municipalities are paying a penalty above AAA debt that’s twice their five-year average.
-End of excerpt. Please click here for full Bloomberg article -> http://www.bloomberg.com/news/2012-04-24/illinois-taxpayers-penalized-by-unpaid-bill-backlog-muni-credit.html
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