Illinois - heading into bankruptcy?

Check out the following from Crain’s Chicago Business, January 10:

www.chicagobusiness.com/cgi-bin/mag/article.pl?articleId=32910&seenIt=1\

“While California has an even bigger budget hole to fill, Illinois ranks dead last among the states in terms of negative net worth compared with total expenditures. The state's liabilities, including future pension payments, exceed its unrestricted assets by $39 billion, more than 72% of its total expenditures as of mid-2008, according to Richard Ciccarone, managing director and chief research officer at McDonnell Investment Management LLC, an Oak Brook money manager that invests in bonds. "It's probably higher now," he adds..”

Gee, aren't we proud of the management skills of our state's officials and elected representatives?