moodys is going to change the way it calculates a states debt burden. WHY DID THEY WAIT SO LONG!. moodys always waits until a crisis hits to make changes. just remember that moodys has whored themselves out to wall street. thats all you need to know.
“Under its new method, Moody’s found that the states with the biggest total indebtedness included Connecticut, Hawaii, Illinois, Kentucky, Massachusetts, Mississippi, New Jersey and Rhode Island. Puerto Rico also ranked high on the scale because its pension fund for public workers is so depleted that it has virtually become a pay-as-you-go plan, meaning each year’s payments to retirees are essentially coming out of the budget each year.”