The Covid bailouts can paper over Illinois' fiscal mess, but they can't hide Illinois' GDP, employment and population failures
It’s amazing what nearly $200 billion in federal COVID aid can do to paper over a state’s crumbling finances. Illinois’ state tax revenues are temporarily at record levels, the unpaid bills backlog has been cut and Illinois even saw its credit rating saved from the precipice of junk. Comptroller Susana Mendoza recently called the state’s changed circumstances an “absolutely remarkable turnaround.”