Rutherford- Schock React to Illinois Credit Rating Lowered
By: Bob Larson
Updated: January 25, 2013
Illinois State Treasurer Dan Rutherford reacted to Standard and Poor's lowering Illinois' credit
rating again, this time to minus A with a negative outlook. Rutherford said in a written
statement, the downgrade reflects what is viewed as the state's weakened pension funded
ratios and lack of action on reform measures. Rutherford went on to say the failure to address
the state's pension liability is costing the state at least $17 million per day plus is making
borrowing even more expensive. Meantime, Congressman Aaron Schock of Peoria issued
a statement said the downgrade is the result of total one party rule for a decade. Schock
says the downgrade will result in more of Illinoisans' tax dollars being spent on higher interest
rates instead of in the classrooms, for healthcare or building infrastructure. Schock ends his
statement with a challenge to Democrats,saying it's time for those with the unparalleled power of total control of Illinois government measure up to the responsibility bestowed upon them. It's time to lead, he says, or get out of the way.
