Guest View – Lucci: What’s a junk bond and why Illinois will be America’s first “junk” state

The political impasse between Republican Gov. Bruce Rauner and Democrat House Speaker Mike Madigan is a colossal clash of personalities and resources. But the political clash masks an underlying reality.

Illinois is facing a reckoning for decades of foolish decisions.

The Land of Lincoln has flouted the basics of good governance for more than a generation. Long-term planning was set aside in favor of short-term political escapes. Politicians ignored and then denied the impossible math associated with out-of-control debt and spending promises.

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