The failed special legislative session a week ago foreshadowed the bad news the state treasurer’s office got Thursday: another warning by Moody’s Investor Service of a possible credit downgrade.
“Once again, Illinois has been extremely cautioned … and they cited, specifically, the inaction of the General Assembly and the governor, as of last Friday,” said Dan Rutherford.
The legislature barely addressed the state’s pension problems. Rutherford, for his part, says while he does not always agree with Gov. Pat Quinn, he believes Quinn was wrong to lay blame at the feet of the Republicans, seeing as how Democrats hold the governor’s office and the leadership of both legislative chambers.
Rutherford says the pension situation is a complicated one, and not necessarily as immediate as, for example, preparing kids for back-to-school. He says while he is no longer a lawmaker and thus no longer has a vote, as treasurer he does have access to two things: the numbers and a bully pulpit.