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|Moody Gives Illinois Lowest Possible Credit Rating|
|News Releases - Business, Economy & Finance|
|Written by Jonathan Wallace|
|Tuesday, 10 January 2012 15:07|
Wallace: “Illinois has fallen into a debt spiral…”
Rock Island, IL…Jonathan Wallace, candidate for State Representative in the 72nd District, released the following statement after Moody downgrades Illinois bond rating again:
“This news is disappointing, but not surprising. Illinois has fallen into a debt spiral, and career politicians like Pat Verschoore choose to hide their heads in the sand and ignore the problem. The downgrade, coupled with unfunded pension and retiree healthcare benefits, will result in more unpaid bills. We need to start having an adult conversation about our budget priorities in Illinois or we will continue to spiral downwards towards financial ruin.
“The voters of the 72nd District are paying attention, and they're tired of failed policies in Springfield. We deserve better and I am committed to reforming spending and finding new ways to save money for the sake of the next generation. When elected next November, I will make balancing the budget and restoring our state's credit rating my top priority."
Jonathan Wallace is running for State Representative in the 72nd District. Wallace is a former Township trustee who founded his own small business and has worked in the Illinois House.
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