Yesterday I wrote to you about a risky change classifying municipal bonds as “high quality liquid assets.” That change, though simple, could lead to increased spending by states and cities. This is obviously a danger given many states’ indebted status, take for example the state of Illinois. A spiral of debt and taxes is driving residents out of the state, which in turn is worsening the state’s revenue problem. Ben Bradley reports for WGN9 news from Chicago:
33,703.
That’s how many residents left Illinois last year.
People leave the state for a variety of reasons from weather to career opportunities.
But experts say Illinois’ population loss bucks national trends and is the opposite of what surrounding states are seeing.
WGN Investigates traveled to Nashville, Tennessee to catch up with Chicagoans who made the move for financial reasons. How did they know it made sense? Do they have any regrets?
Read more here.
