State Treasurer Opposes More Borrowing

CHICAGO (WBBM/AP) — Illinois State Treasurer Dan Rutherford said Sunday that the state’s gargantuan debt has pushed Illinois to “the verge of a financial disaster.”

Two major borrowing plans are on the table in Springfield as lawmakers work on next year’s state budget, but Rutherford said Sunday he opposes taking on any more state debt.

LISTEN: Newsradio 780’s Lisa Fielding Reports

Gov. Pat Quinn wants to borrow billions to pay the state’s overdue bills. Another proposal would sell bonds to pay for construction programs.

Rutherford says Illinois’ bond debt has nearly quadrupled over the past decade and now stands at $45 billion.

The Republican treasurer says that amounts to $10,000 for every household in Illinois.

(TM and © Copyright 2010 CBS Radio Inc. and its relevant subsidiaries. CBS Radio and EYE Logo TM and Copyright 2010 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)

  • Tom Sharp

    Along with impeaching the cowardly governor, we should cut the legislative districts in half here. The TAXPAYERS can’t afford these morons in such great numbers. TERM LIMITS OF ONE!!!!

    • Frannie Dorchester

      Tom, feel bad that you live in the epicenter of evil. You are surrounded by the disease that is taking down the entire country.

  • Common Sense

    stop spending more money that what’s brought in. Didn’t anybody teach them the value of a dollar? We can’t afford this type of thinking.

  • Patrick Mauro

    Rutherford is opposed to paying for goods and services already rendered to the state of Illinois. Illinois owes vendors over $8 billion.
    He wants Illinois to continue to be a deadbeat state.
    What a brave man.
    Illinois has raised taxes. It is now time to seriously cut spending AND pay our past unpaid bills.

  • Erinn

    Does anyone gona cut their salaries and perks and then start cutting hours so there will be less spending and please bring more jobs to the area so taxpayers will not suffer anymore in this economy.
    How about solar paneled trucks we can built?

  • Janet

    Tom Sharp, I agree. How he got elected was by pure fraud.

  • Janet

    Tom Sharp, I agree. How Quinn got elected was by pure fraud. Cut the legislative numbers in half. Discontinue their lifetime retirement funds. Most of them have dual retirement coming in. Lawyers, retired Education administrators, business owners, etc.

  • Tuesday Breakfast Links | Points and Figures

    […] Treasurer Dan Rutherford opposes new borrowing.  Illinois is […]

  • Mike

    Cut all the handouts to people other than the elderly and infirmed and make everyone pay their fair share of taxes (no more EITC). Then, our state would have a lot more money

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