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Moody's succinctly spells out the causes of the state's credit decline: "governance weaknesses, bill payment deferrals, chronic structural budget gaps, and soaring unfunded pension liabilities".
Further detailing the downgrade, Moody's said Illinois's "chronic use of payment deferrals to manage operating fund cash" presented a major challenge to its financial wellbeing.
That was called deferral.
More delay, more deferral.
Happiness required deferral.
"There were no grounds to justify deferral".
Those who favour deferral point to Uruguay.
If requesting a deferral, please see our deferral policy.
Deferral etc. does not exist.
But deferral need not be paralysis.
Would ending deferral keep jobs at home?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com