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Could Illinois Be the First State to Go Bankrupt?
The Fiscal Times ^ | June 12, 2017 | Eric Pianin

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 state’s 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 ...


TOPICS: Crime/Corruption; Government; US: Illinois
KEYWORDS: bankrupt; chicago; funny; humor; karma
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To: virgil
The problem is if you live in a border state. They’ll all move to another state and bankrupt them.

If Federal "means-tested benefits" grants to states are severely cut back, then states will compete with each other as to which can be LEAST attractive to welfare migrants. The losers will go bust.

61 posted on 06/13/2017 4:25:05 AM PDT by PapaBear3625 (Big government is attractive to those who think that THEY will be in control of it.)
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To: arrogantsob

Like it or not, the buck stops there.


62 posted on 06/13/2017 5:34:54 AM PDT by Little Ray (Freedom Before Security!)
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To: arrogantsob

Like it or not, the buck stops there.


63 posted on 06/13/2017 5:34:56 AM PDT by Little Ray (Freedom Before Security!)
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To: Boomer

The current pols are the ones we have. If you can think of a legal method to deal with the previous parasites, that would be fine.


64 posted on 06/13/2017 5:36:33 AM PDT by Little Ray (Freedom Before Security!)
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To: Brilliant
Article Four, Section Four of the Constitution says that the federal government shall guarantee a republican form of government to the states. A republican form of government is one where the people elect representatives to represent their views when it comes to making governmental decisions. Illinois is a sovereign state. Anyone who does not have voting rights in Illinois has had no representation in it's governmental decision making processes. Requiring someone from outside the voting process in Illinois to pay for decisions made by the Illinois legislative process breaks the guaranteed republican form of government commitment in Article Four, Section Four.
65 posted on 06/13/2017 6:34:24 AM PDT by Uncle Sham
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To: SaveFerris

Hillary is also a native of Illinois.


66 posted on 06/13/2017 6:37:24 AM PDT by monocle
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To: Uncle Sham

Well in that case the whole Freaken federal government is unconstitutional.


67 posted on 06/13/2017 10:08:36 AM PDT by Brilliant
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To: Extremely Extreme Extremist

New economic activity is almost always generated by cities and later it is spun off to lower cost areas where the creativity is not needed and production proceeds as a rote procedure.

Southern Illinois does not have a sufficiently expanded Division of Labor necessary for new industry to establish itself.

As an example, in my little south Arkansas town were I was born and raised there were very few who could play bridge - in Chicago there are hundreds of clubs. My job would have never existed in Crossett. In Chicago I could work as a Financial Analyst. My biggest wish would be to hired as a production worker at the local paper mills, the best paying jobs in town.

Ever wonder why people continue leave such areas and migrate to the cities? And we will not even get into the cultural experiences available unknown in less urban areas.

Don’t let your hatred of their political machines distort your view of the economic value of cities. I share that hatred but the truth is the truth


68 posted on 06/13/2017 12:03:07 PM PDT by arrogantsob (Check out "CHAOS AND MAYHEM" at Amazon.com)
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To: piytar

No it is not a lie. I have checked into federal taxation and it is true.

Now that is not saying that every blue state pays more in federal taxes than it receives or that every red state gets more in federal taxes than it pays.

The numbers I examined did not list Texas as a deficit state but most states are not like Texas.


69 posted on 06/13/2017 12:06:58 PM PDT by arrogantsob (Check out "CHAOS AND MAYHEM" at Amazon.com)
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To: monocle

Figures


70 posted on 06/13/2017 12:29:29 PM PDT by SaveFerris (Hebrews 13:2 Do not forget to entertain strangers, for ... some have unwittingly entertained angels)
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To: detective

So, wonder what will happen when all the stores show “TILT” on the EBT cards. Hey, if the state is broke - the broke peeps are gonna be even broker . . . aiiight?

This lil’ blast from the past will be quite appropo . . . donchas think?

https://www.youtube.com/watch?v=2rxWPEdYCnI


71 posted on 06/17/2017 8:32:16 AM PDT by Pilgrim's Progress (http://www.baptistbiblebelievers.com/BYTOPICS/tabid/335/Default.aspx D)
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