Posted on 07/06/2010 6:57:06 AM PDT by rhema
How fitting that the state that produced the profligate corruptocrat-in-chief is now collapsing under the weight of its own fiscal irresponsibility. The same union-coddling, welfare state-expanding, pay-for-play politics that wrought the current misery in Illinois are wreaking havoc for us all. And to think: If President Obama, Mrs. Obama, Valerie Jarrett, and Chicago Mayor Richard Daley had had their way, they would have shoveled billions more in taxpayer funds down the drain for their Olympics folly. As I’ve noted here before, you can take Obama out of Chicago, but you can’t take the Chicago out of Obama.
What a costly lesson for America to learn, eh?
Via the NYTimes:
Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo.
He picks the papers off his desk and points to a figure in red: $5.01 billion.
“This is what the state owes right now to schools, rehabilitation centers, child care, the state university — and it’s getting worse every single day,” he says in his downtown office.
Mr. Hynes shakes his head. “This is not some esoteric budget issue; we are not paying bills for absolutely essential services,” he says. “That is obscene.”
(Excerpt) Read more at michellemalkin.com ...
I know, maybe they should raise taxes on their rich, that worked so well in California
I wonder what the blue states to red states ratio is for insolvency?...............
I worked for the Jack Ryan for Senate campaign in 2004. If we had won that campaign, Barack Obama would still be an obscure state senator in Springfield. Instead, the liberal press destroyed Ryan — by convincing a liberal Los Angeles judge to unseal Ryan’s divorce records and reveal the false allegations that were made against Jack by his ex-wife.
The press controls public opinion. Today, the traditional liberal press faces bankruptcy. But they’ve done enough damage that our nation is in serious jeopardy.
Wait ‘til the Chicago Board of Trade, the Options Exchange and the Mercantile Exchanges all decide to re-locate to a more tax and business friendly state...like say Arizona or Texas. Not that big a move in these days of high speed electronic communication and reporting.
Typical democrat - even though you’re a part of the process that lead to such a disaster, you just point at it and wring your hands like you had nothing to do with it at all.
The CBOT, CBOE, MERC all will stay in chicago because they can get away with robbery and murder. Who do you think engineered the downfall in the summer of 2008 in the markets?
Jack Ryan for Senate campaign in 2004. If we had won that campaign, Barack Obama would still be an obscure state senator in Springfield.
Yup. State Senator Chauncey Gardenier, obscure, photogenic and "mostly harmless".
Actually, the typical Democrat response is to proclaim that we "just didn't spend enough and we now need to spend more to fix it".
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.