Illinois’ state budget practices earn poor marks from fiscal watchdog Illinois’ state budget practices earn poor marks from fiscal watchdog A Volcker Alliance report on truth and integrity in state budgeting finds Illinois lacking. Debt, budget gimmicks and thin reserve funds gave the state poor marks. Illinois has spent more than it brings in for 21 consecutive years, giving it the second-largest total debt burden of any state and the nation’s lowest credit rating – even though it recently received its first bond upgrades in decades. Responsibility largely lies with numerous lawmakers and governors who have made fiscally irresponsible policy decisions for those 21 years.