The impasse over pension reform in Illinois is getting the attention of Wall Street. In a new report, Moody's is threatening to again lower the state's credit rating because of the state's inability to act on pension reform.
Last week, the Democrat majorities in the Illinois General Assembly, and Democrat Gov. Quinn failed to reform the state's public pension systems which are at least $83 billion in debt. The Moody's report said "inaction on the state's pension liabilities will further strain this lowest-rated state's finances." More HERE