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Illinois’ unpaid bills have dropped, but its debt has not

MAY 5, 2021 | by Editorial | NEWS-GAZETTE (ILLINOIS)

Editorial, includes “State Comptroller Susana Mendoza took a victory lap last week after announcing that Illinois’ huge stack of unpaid bills —$16.7 billion in 2017 — has been reduced to $3.5 billion, a sum that means ‘vendors and providers of good and services are getting paid without delay.’ … Borrowing from Peter to pay Paul is good for Paul. But the borrower still has the same debt, one now owed to Peter. So while those owed money by the state are better off, the people of Illinois still owe the money they borrowed to pay those unpaid bills.”

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