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Fitch Ratings calls Illinois like it is: “unprecedented failure”

Feb 05, 2017

The latest Illinois credit rating downgrade from Fitch Ratings is chock full of phrases that could be used in the next campaign cycle against the governor and other incumbents.

The one that’s made the most headlines is “Unprecedented failure,” as in Fitch’s downgrade “reflects the unprecedented failure of the state to enact a full budget for two consecutive years and the financial implications of spending far in excess of available revenues, which has resulted in increased accumulated liabilities and reduced financial flexibility.”

But that’s just stating the obvious. Pretty much anybody paying half attention out there knows the people who run…

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