Heartland Alliance Blog: States’ Financial Grades Are in, and Illinois Has Failed Yet Again

Truth in Accounting’s latest “Financial State of the States” rankings placed Illinois in 49th place—barely beating out New Jersey. The Prairie State was labeled a “Sinkhole State” and earned a “financial grade” of “F.”

If you’re wondering why Illinois earned such putrid marks, here are some of the state’s “highlights” from 2017: Illinois owes a mind-boggling $244.9 billion in outstanding bills and unfunded future liabilities. To put this in perspective, every current Illinois taxpayer would have to write a check for $50,000 to cover this colossal debt burden. Since the odds of Prairie State taxpayers sending an extra $50,000 to Springfield is highly unlikely, what does the economic future hold for the residents of Illinois?  Click here to read more