Gov. Bruce Rauner is rejecting calls from Democrats like Treasurer Michael Frerichs and Comptroller Susana Mendoza to turn to borrowing to reduce the state's $14.4 billion dollar backlog of overdue bills. Rauner says the state should not seek more credit. Mendoza and Frerichs both called for selling up to $6 billion in bonds. Mendoza says borrowing could kill two birds with one stone.
Mendoza says bonds can be paid back at a lower interest rate than the current 12 percent interest rate the state is paying on its overdue debt..