A report shows Illinois is guilty of one of the largest bonded liabilities in the country. The American Legislative Exchange Council, or ALEC, released its annual State Bonded Obligations publication, which highlights the risks posed to taxpayers by excessive bonded obligations. ALEC research manager Thomas Savidge says by using bonds to increase spending today, states are kicking the can down the road.
Savidge believes Illinois was heading towards a risky place financially if not for the federal government.
Illinois is one of ten states with the largest bonded liabilities that make up 66 percent of the country’s total amounting to over $810 billion dollars.
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