This State is Looking at Bankruptcy – There’s a Simple Way to Pull Back from the Brink

IWB ^ | Mark Angelides

[davikkm]

Illinois is now spending over 100% of its monthly revenue and talk of Chapter 9 bankruptcy has begun; Congress has yet to step in, but chatter predicts it may not be much longer. The problem remains that until Illinois (and more specifically Chicago) changes its economically suicidal policies, there is almost nothing that can be done to stop the spiral. Major ideology changes will be blocked constantly, but there is something they can do that will keep all sides relatively happy.

People have been talking about Illinois going bankrupt for years (in fact it seems to be an almost annual cycle), but this is perhaps the first time that it has a real possibility of happening. Letters have been sent out to contractors employed by the State asking them to stop “billable work” on or before July 1st as they will not be paid.

Tinkering around the edges of taxation has utterly failed. In 2011 the personal income tax was raised by 2/3s squeezing many who were only just getting by. And then they increased the corporate tax to 30% which hurts small to medium sized employers far worse than large corporations (who just move their money around). These plans didn’t work the, and unfortunately, it seems they will try and do the same process again. Chicago Mayor, Rahm Emmanuel, has decided that he will solve this problem by…Raising Taxes Again!!!

[txrefugee]

A portent of what’s to come when Medicare, Medicaid, and Social Security run out of money. The politicians keep promising a fix, but they all keep raising the debt ceilings. That will stop one day.

[humblegunner]

There’s a Simple Way to Pull Back from the Brink

Yeah, what might that be? We need to click your blog to find out?

Bite the big sweaty wax tadpole, you chode.

[xp38]

Yeah they need some Brinks trucks loaded with Benjamins.

[Savage Beast]

Before a state was admitted to the union, it was a territory. We should revert any state to territory status if it becomes unable to govern itself.

[Jonty30]

Put the state under a federally appointed emergency manager with the ability to say no to the state legislature.

[Lurker]

“Illinois is now spending over 100% of its monthly revenue and talk of Chapter 9 bankruptcy has begun; “

Only by dipsticks and ignorant editorial writers.

L

[Salvavida]

Constitutional amendment: if a state goes bankrupt, it should lose all congressional representation until it can demonstrate 10 years of solvency.

[KarlInOhio]

1. Stop Sanctuary City processes for any illegal migrant who commits a crime.

2. Cut taxes back to the rates they were in 2010.

[terycarl]

Governments run by Democrats are almost always a disaster....Illinois, California, New York...Michigan, etc.

[KeyLargo]

Writer says Ok to illegal immigration to fix Illinois going down the drain.

So when citizens of Illinois will be unemployed due to illegals taking their jobs, will Illegals support them?

[Kozy]

Here’s an easy one. If you are illegal you do not get benefits. No food stamps, no free housing no free medical. One children born in America does give entire family benefits. The American get them. The rest get bus ticket to Mexico. Take kid with you,

[Kozy]

Here’s an easy one. If you are illegal you do not get benefits. No food stamps, no free housing no free medical. One children born in America does give entire family benefits. The American get them. The rest get bus ticket to Mexico. Take kid with you,

[miliantnutcase]

Someone else also had a good point. Remove Chicago from the state and make it a district like DC.

[Liz]

Read more at chicago.suntimes.com ...

In Sept 2013, the daughter of infamous “God D**n America” Rev Wright, and 12 other Democrats were charged with embezzling $16 million in Federal health grants (tax dollars) earmarked for AIDS charities and programs for the poor and needy. More than one of the defendants had direct ties to President Barack Obama.

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ONCE UPON A TIME IN GANGLAND CHICAGO Rev Jeremiah's Wright's beloved daughter was convicted for looting a $1.25 million state grant which financed a tax- exempt, not-for-profit work and education program called "We Are Our Brother's Keeper," owned by Regina Evans, former police chief of Country Club Hills, and her husband, Ronald Evans Jr.

Back in 6/8/13 Chicago Police Chief Regina Evans (above) pleaded guilty to government fraud and money-laundering related to the misuse of a $1.25 million state grant to the non-profit she ran with her husband, Ronald Evans Jr.

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Earlier, in October 11, 2011, Police Chief Regina Evans Resigned

COUNTRY CLUB HILLS, Ill. (CBSLOCAL.COM) Country Club Hills Mayor said that negotiations were underway to clear the way for the resignation of police Chief Regina Evans, in office for about two years,

<><> Regina Evans was on (ahem) disability leave since August 2011,

<><> it was earlier reported that Illinois AG's office is suing Regina Evans' n/p over its handling of state job training grant worth more than $500,000.

<><> Evans also signed off on invoices for a controversial summer camp where the campers — including children of aldermen who voted for it — got paid to attend (Chicago-way--"redistribution of income").

<><> Most recently, Evans came under fire for overseeing a 2011 part-time police program where 10 part-time police officers were hired.... bur that many had questionable backgrounds, and weren’t qualified to do police work. They were ordered to turn in their guns and badges (got high-paid city sanitation jobs).

The SouthtownStar contributed to this report, via the Sun-Times Media Wire.

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Just goes to show: sap-happy Dem/Libs love to say they're "for" their fellow-man---while conniving to make a buck on it.

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CHICAGO GANGLAND IN THE WH---Obama'll do anything to change the national conversation about illegals, contamination, contagion, and the overthrow of the US govt. “My Brother’s Keeper” is an initiative recently organized by Pres Obama w/ our tax dollars----that aims "to boost the life chances" of young African and Hispanic men.

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BACKSTORY "My Brother's Keeper" is a scam that originated in Chicagoland----and it reared its ugly head in Washington.

WASH/POST---Community lenders’ network commits to lend $1 billion in support of Obama's ‘My Brother’s Keeper’ / By Zachary A. Goldfarb, March 6, 2014

A network of (ahem) community lenders is committing to lending (?) $1 billion in support of President Obama’s “My Brother’s Keeper” initiative that aims to boost the life chances of young African and Hispanic men.

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Valerie Jarrett attended "My Brother's Keeper" events....so did Valerie have her portable wire transfer kit with her? B/c a day without wire-transferring offshore makes Obama and Michelle nervous.

[Liz]

Working class pensioneers and taxpayers must demand to know the number
of pension checks AND other govt checks the politically-connected are cashing.

CASE IN POINT:

Obama paid her $175K plus federal perks; yet Valerie Jarrett
pocketed $36K pension from Part-Time Chicago Transit job
dailycaller.com ^ | 2/17/2016 Chuck Ross / FR Posted by rktman

Chicago is known for its L-train. But it's the gravy train that White House senior adviser Valerie Jarrett prefers to ride.

In addition to the $173,922 Jarrett earns per annum as President Obama's senior adviser, she is also paid an annual pension of $35,660 for the eight years she served as chairman of the Chicago Transit Authority, according to a Chicago Sun Times investigation.

Jarrett was appointed to chairman of the agency - a part-time position - in 1995 by then-mayor Richard Daley, whose brother, William Daley, served as Obama's chief of staff. Jarrett served as the former mayor's deputy chief of staff and was appointed to numerous other positions during his term. (Excerpt) Read more at dailycaller.com ...

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How many federal and state govt checks is Valerie Jarrett cashing?

How many transportation bonds were issued while Jarrett was at Chicago Transit?

Valerie's pension payout would pale against her hidden income from lucrative Chicago bond deals.

[marktwain]

Here’s an easy one. If you are illegal you do not get benefits. No food stamps, no free housing no free medical.

---

California attempted that with a referendum.

A federal court said it was unconstitutional.

[Kozak]

It won’t stop because of the debt ceiling, the pols will play that forever.
It stops when the rest of the world figures out the game and stops buying our debt.

[CIB-173RDABN]

The financial crisis is the direct result of progressive ideology (and the corruption that follows it).

Progressives can not fix the problem since it would require admitting that their ideology is wrong and does not work.

More money is not the answer.

[rigelkentaurus]

Chapter 9 is not the right choice for Illinois - they should be selected Chapter 7.