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Moody’s rating may affect Illinois universities including NIU

The following news article is reprinted from Crain’s Chicago Business:

Illinois public universities risk being downgraded, Moody’s Investors Service announced today, singling out schools ranging from the University of Illinois at Urbana-Champaign to Northern Illinois University in DeKalb.

The other universities mentioned by Moody’s include Eastern Illinois University, Governors State University, Illinois State University, Northeastern Illinois University, Southern Illinois University and Western Illinois University.

The reason,

The universities are overly dependent on the state for “operating funds and fringe benefits,” Moody’s said in a statement. The agency also noted “extensive appropriation payment delays in a challenging budget environment that continues to pressure Illinois’ public universities cash flow and liquidity.”

Moody’s doesn’t have a high opinion of Illinois’ debt. Last week the credit rating agency signaled that the state’s already low rating may soon be lowered again, based on a pessimistic outlook that Illinois can reduce its pension costs. Illinois already is Moody’s lowest rated state, one notch below California.

The lack of leadership in Springfield, failing to control their deficit spending and pension underfunding, is now creating a fiscal cliff for government entities in the rest of the state – par for the course with Illinois having the lowest Moody’s bond rating in the nation.

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11 Comments

  1. Ted Biondo

    What, no liberals want to comment on something that takes more than emotion to understand on this post either?

  2. JRM_CommonSense

    Ditto from the previous post. Not even worth writing my entire comment twice… Yawm!

    • Ted Biondo

      Because of your yawning and no action, this state will fail because you keep voting these liberal jerks into office and this is what the rest of us has to put up with – bankruptcy!

  3. JRM_CommonSense

    You are right Ted, this is all my fault! I know it will be a burden on you – this bankruptcy thing. BUT, I didn’t see any of your actions preventing it from happening. BUT, you’re right, it is all my fault! How could you have stopped it, you didn’t have total control over all aspects of the government so you could ramrod your way down everyone’s throats without any opposition. How could the electorate not see that your way is the only way?

  4. “How could the electorate not see that your way is the only way?”

    Because of the Leftist “entitlement mentality”. As Josef Goebbels once opined:

    “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”

    The lying Leftist Democrats promised the electorate that “big government” will give them everything they want, and someone else will pay for it. Hopefully, the citizenry can become better-informed before it is too late (if it isn’t, already).

  5. JRM_CommonSense

    I guess that fact that you have quoted this Goebbels quote 932 times over the last 2 years indicates that you believe it and have decided to use it hoping that we will eventually believe it. Well guess what, it appears that you are the gullible one. Gullible enough to buy into the Nazi approach to reality and believe that everyone who does not agree with your world view is being dupped by others. But keep repeating it. It make us giggle a lot!

  6. Interesting exaggeration, since that would mean that I used the quote more than once a day, seven days a week, for those two years. You do realize that remembering that quote during your hallucinations doesn’t count towards the real number, don’t you?
    I’ve told you a million times, STOP EXAGGERATING! ;-)

    The same principles are used by your (and Obama’s) mentor, Saul Alinsky, in his “Rules for Radicals”. Just because Goebbels was a NAZI doesn’t mean his theory on propaganda was wrong. The NAZIs were ruthlessly efficient, and quite successful, in most of what they did. Had Hitler remembered what happened to Napoleon, and started his invasion of Russia sooner, history might have been quite different.

  7. JRM_CommonSense

    932 and 1/2 times and counting!

  8. I didn’t repeat the Goebbels quote, but since when have facts gotten in the way of your inane blathering?

  9. BTW, once the Federal Reserve can no longer hold the interest rates at artificially-low numbers, the interest payments on our debt will “necessarily have to skyrocket”, and even more and bigger cuts will have to be made, just to keep at the status quo.

  10. JRM_CommonSense

    Thus saith the holder of a BS in Factoid Re-alignment.

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