Illinois’ strategy for digging out of debt: taking on more 

SPRINGFIELD, Ill. (AP) — Illinois lawmakers who ended the nation’s longest state fiscal standoff since the Great Depression have an ironic strategy for digging out of debt: taking on even more of it. Chicago Democratic Sen. Donne Trotter says late-payment interest on $15 billion owed to vendors is far more expensive than interest on selling bonds. It’s an unorthodox approach considering deficit spending largely created the mess and Illinois’ worst-in-the-nation credit rating makes borrowing inordinately expensive.