Pension crisis costing Illinois

Published 06/27 2013 10:00PM

Updated 06/28 2013 11:49AM

SPRINGFIELD -- Gov. Pat Quinn announced the state sold bonds this week to pay for road projects, and it's already feeling the pain of the pension crisis.

Credit rating agencies downgraded the state's rating earlier this month, citing no end in sight to the state's $100 billion pension crisis.

The governor's office says the latest downgrade will mean $130 million extra in interest on those bonds.

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