Silver as an investment

IL lottery winners are being issued IOU’s

money.cnn.com / August 31, 2014
Congratulations, you won $25,000 in the Illinois lottery! Sorry, you’ll have to settle for an IOU for now.

Winners of the Illinois lottery are being forced to wait for their money, because state lawmakers haven’t passed a budget and so lottery officials don’t have legal authority to do payouts.

Jackpots of at least $25,000 have been put off for the foreseeable future, according to lottery spokesman Stephen Rossi.

Illinois is grappling with a serious fiscal crunch.

“Due to the ongoing budget situation in Springfield, some lottery winner payments have been delayed,” he said. “All winners will be paid in full as soon as the lottery and the Illinois comptroller have the legislative authority to do so.”

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Hat tip: CtrlAltBernanke

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