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Illinois tells voters its budget is balanced, warns bond investors it’s not

AUGUST 20, 2018 | by Mark Glennon | WIREPOINTS

“Illinois has one story for voters and a different story for bond investors when it comes to its budget. That’s because you get sued for lying to investors but not for lying to voters. … Honest budget accounting would reflect what gets accrued in ever growing debt, including unfunded pension liabilities.” 

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