Guest View: McCaleb: As in Puerto Rico … Illinois following dangerous path to the bottom

Dan McCaleb

Add Investors Business Daily to the list of media outlets comparing Illinois’ fiscal crisis to that of Puerto Rico’s.

The respected financial news outlet blamed decades of bad government for the deep financial problems both are facing.

“On the surface, Illinois and Puerto Rico would seem to have next to nothing in common. But in fact there’s quite a lot, especially when you look at the recent dire economic, fiscal and population trends for both,” the June 2 column opens. “Both the Midwestern state and the U.S. island commonwealth are hemorrhaging citizens, with thousands leaving. Perhaps not surprisingly, both also have troubled economies, are deeply in debt and have few prospects for fixing their self-inflicted fiscal problems.”

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