Understanding Government

Rich Miller’s Illinois-focused Capital Fax blog looks at how the federal deficit ceiling deal will impact the budgets of Illinois and other states. And the answer is… We don’t really know. The details of cutting Medicaid, public works projects, and education funding will — like much of the rest of the debt-cutting plan — be left to a bipartisan congressional panel. The good news for Illinois is that their already shaky credit status will not be hurt in a default.