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Sad, it was once a great state, the same thing is presently happening in my state of Connecticut.
Illinois is like Venezuela now, a fiscally broken state that has lost its will to live, although for the moment, we still have enough toilet paper.
But before we run out of the essentials, let's finally admit that after decade upon decade of taxing and spending and borrowing, Illinois has finally run out of other people's money.
Those "other people" include taxpayers who've abandoned the state. And now Illinois faces doomsday.
So as the politicians meet in Springfield this week for another round of posturing and gesturing and blaming, we need a plan....
...Illinois hasn't had a state budget for years. The state continues to spend money it doesn't have, and the state's credit ratings have dropped, increasing the cost of borrowing more money we don't have to keep the rotten shebang going.
Bills pile up; Moody's Investor Service says taxpayers are on the hook for $251 billion in unfunded public union pension liabilities.
Boss Mike Madigan, king of the Democrats who control things, wants tax increases but no real structural reform to bring stability to The Venezuela of the Midwest....
http://www.chicagotribune.com/news/c...20-column.html
But before we run out of the essentials, let's finally admit that after decade upon decade of taxing and spending and borrowing, Illinois has finally run out of other people's money.
Those "other people" include taxpayers who've abandoned the state. And now Illinois faces doomsday.
So as the politicians meet in Springfield this week for another round of posturing and gesturing and blaming, we need a plan....
...Illinois hasn't had a state budget for years. The state continues to spend money it doesn't have, and the state's credit ratings have dropped, increasing the cost of borrowing more money we don't have to keep the rotten shebang going.
Bills pile up; Moody's Investor Service says taxpayers are on the hook for $251 billion in unfunded public union pension liabilities.
Boss Mike Madigan, king of the Democrats who control things, wants tax increases but no real structural reform to bring stability to The Venezuela of the Midwest....
http://www.chicagotribune.com/news/c...20-column.html
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