Candidate Seth Lewis weighs in on Illinois budget problems
Seth Lewis, a Republican candidate from Senate District 23, has weighed in on the Illinois state budget problem.
Illinois has operated without budget for almost a year and its credit rating just took another hit. This does not sit well with Lewis
“It is disturbing to me without a doubt,” Lewis said. “As a businessman this is extremely troubling to me because without investment in our state it makes the job of bringing jobs and improving our economy in Illinois that much more difficult.”
Illinois’ bond rating on $26 million of debt dropped from Baa2 from Baa1 when Moody’s Investors Service issued another bond downgrade. Illinois is now buried under what seems to be insurmountable debt and has the worst credit in the United States. To make matters worse, construction bonds and bonds that support the expanding of the Metropolitan Pier and Exposition Authority were downgraded to Baa2 as well.
Moody’s estimated that the backlog bills for Illinois will exceed a record high $10 billion in the coming months.
“We need someone (in office) with a business mindset and who will understand how to balance a budget,” Lewis said, “so we don’t have to face negative consequences.”