Skip to comments.Could Illinois Be the First State to Go Bankrupt?
Posted on 06/12/2017 2:43:54 PM PDT by detective
Illinois has long been the poster child for a dysfunctional state fiscal policy.
The states Republican governor, a formerly wealthy businessman, and the Democratic-controlled legislature have been perpetually locked in a race to the bottom as the Land of Lincoln has repeatedly flirted with near- bankruptcy and junk-bond level credit ratings.
(Excerpt) Read more at thefiscaltimes.com ...
The only solution is for the rest of the country to bail them out.
Puerto Rico which is already bankrupt voted to become a state.
The operative word to both situations is “no”.
Need to start commandeering the assets of those government “servants” who’ve willfully committed fiscal malfeasance and also putting them in jail for same.
I’m tired of footing the bill for this retarded a@@holes.
Damn. I had it all riding on California.
“The only solution is for the rest of the country to bail them out.
Puerto Rico which is already bankrupt voted to become a state. “
Treat both Illinois and Puerto Rico like Trump “treated” NATO. “We’re not going to pay the whole tab so you can use your money for your own purposes!” I would love to see Illinois go under so maybe it will push CA to do so also.
Illinois should change their state motto to “Thank God for California.”
....Puerto Rico which is already bankrupt voted to become a state....
Maybe the rest of everyone outside of Chicago should do the same and declare their independence from Chicago. Maybe Madison, Wisconsin should annex the Chicago area.
how would their reps vote?
Have they tried setting up a GoFundMe page?
I’ll give them a bit of dough if they’ll recognize a Virginia or Utah carry permit.
That second line says everything about how the press wants to portray this. The conservative governor is just as much as fault as the spendthrift legislature. Yeah, right. They are locked in a battle because the governor is trying to regain some control over out of control state spending, even if its only in the smallest ways. The MSM needs to lay the blame where it belongs — on the Democratic state legislature, aided and abetted by “Republican” legislators who were more than happy to stick their snouts in the trough too.
This is the state that (most recently) gave us The Manchurian Candidate Barack Hussein Obama?
Let me see, I might have an answer on how much I care.....
ahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa. yep! thanks rombo, obama, and the rest of the the rat commies that are destorying our large cities
Maybe they can vote to become part of The United States like Puerto Rico.
We do need a process though where people can petition to form their own states. Big liberal cities are controlling and destroying the rest of their state.
A lot of teachers and administrators will need to loose their six figure pensions. They just can’t raise taxes high enough to make up for those.
Generous pensions for life along with corrupt politicians raiding those funds for pet projects and to reward donors and you have California and Illinois.
Unfortunately your scenario would hit the wall of economic power. Chicago’s economy dominates the state and region.
And there is the irony that the Blue States pay the majority of federal taxes and export that money to the Red states. It could succeed as an independent city-state but the rest of the state would go to hell in a handbasket and their economies bankrupted.
BTAIM, the article should not speak of the Governor in a race to the bottom. He is like the Little Dutch Boy with his finger in the dike. If he folds a new wave of taxes will flood the state and not a penny will be cut.
A state can break away from another state. All it requires is approval of the states involved and an act of congress. Heck if Milwaukee, Chicago, and Gary all wanted to form its own state, I would be all for it.
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