Illinois Credit Rating One of America’s Worst

November 29, 2011

This is just sad: Illinois has been ranked as the second worst run state in the country.

For the second year, 24/7 Wall St. compared data from each U.S. state on financial health, standard of living and government services to determine how well each is managed, and then ranked them from 1-50.

It’s our credit rating that landed us at second worst in the country, which should come as no surprise since Illinois has been on credit watch since 2008 thanks to budget shortfalls and legal challenges against then-governor Rod Blagojevich.

Here’s what 24/7 Wall St. had to say about our fare state:

49. Illinois

* State debt per capita: $4,424 (13th highest)

* Percent without health insurance: 13.8% (23rd lowest)

* Percent below poverty line: 13.1% (25th lowest)

* Unemployment: 10% (10th highest)

“Illinois has fallen from 43rd last year to the overall second-worst run state in the country. The state performs poorly in most categories, but is worst when it comes to its credit rating. Illinois has a credit rating of A+, the second worst given to any state, behind only California.”

Wyoming captured the No. 1 spot on 24/7 Wall St.’s list of Best Run States for the second year in a row. For comparison, here are that state’s stats:

1. Wyoming

* State debt per capita: $2,452 (18th lowest)

* Pct. without health insurance: 14.9% (21st highest)

* Pct. below poverty line: 10.3% (7th lowest)

* Unemployment: 5.8% (6th lowest)

Blagojevich, who helped put us in this mess, is due to be sentenced for political corruption on Dec. 6. Of course, that won’t do anything to help our credit rating.

Categories: Economy

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