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<blockquote data-quote="texan" data-source="post: 1019028" data-attributes="member: 38206"><p><strong>Illinois Bonds Downgraded over Pension Crisis</strong></p><p><strong>Standard & Poor’s Ratings Services said it lowered Illinois’ rating a notch because of “weak pension</strong></p><p> <strong>funding levels and lack of action on reform measures.” The firm also said the financial outlook for </strong></p><p><strong>Illinois is negative, in part because the state’s temporary income tax is scheduled to expire in 2015.</strong></p><p><strong></strong></p><p><strong>Illinois politicians agreed the state’s massive pension shortfall must be corrected quickly, but they </strong></p><p><strong>blamed others for the delay. Democratic Gov. Pat Quinn said legislators didn’t do their job. Republican</strong></p><p> <strong>legislative leaders said Democrats were the ones who quit.</strong></p><p><strong></strong></p><p><strong></strong></p></blockquote><p></p>
[QUOTE="texan, post: 1019028, member: 38206"] [B]Illinois Bonds Downgraded over Pension Crisis Standard & Poor’s Ratings Services said it lowered Illinois’ rating a notch because of “weak pension funding levels and lack of action on reform measures.” The firm also said the financial outlook for Illinois is negative, in part because the state’s temporary income tax is scheduled to expire in 2015. Illinois politicians agreed the state’s massive pension shortfall must be corrected quickly, but they blamed others for the delay. Democratic Gov. Pat Quinn said legislators didn’t do their job. Republican legislative leaders said Democrats were the ones who quit. [/B] [/QUOTE]
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