Illinois Plans to Raise Billions ($6 Billion Estimated in Unpaid Bills -Comptroller)

Here's a quick summary of the CNN article today which includes an embedded video featuring Illinois Comptroller Daniel Hynes. Illinois plans to raise:
1. $900 million through Build America Bonds
2. $1.3 billion in short-term notes next week
3. $1.4 billion in debt related to tobacco settlement funds in November
4. $3.7 billion through debt markets to fund pension obligations

"It could have as much as $6 billion in unpaid bills that have left schools, social service agencies and vendors waiting months to be paid, according to state comptroller Daniel Hynes."

If you remember, Illinois took out Iraq on the CDS top probability of default list the other day (link).

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