Will the Coronavirus Crisis Force a Financial Collapse in Illinois?

April 8, 2020 — Illinois’ state finances were in critical care long before the CoronaVirus forced the economic shutdown. But the bills and obligations run up in past years are still there to be paid. What’s going to be missing in a massive way are the revenues needed to pay the pensions, healthcare costs, education expenses and state law enforcement.

As we hear from Ted Dabrowski, an expert in public finance and the President of Wirepoint.com, the state now faces a catastrophe of massive unemployment, a decimated business climate that will take over a year to regain the lost revenues during the shutdown.

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