Illinois could soon be the first state in history to have its bonds rated as “junk.” Last month, both Moody’s MCO and Standard & Poor’s downgraded Illinois debt to just one notch above junk status.
Last week, the Illinois State Senate President Don Harmon (D-Chicago) wrote a letter to Congress requesting a $41.6 billion bailout. Critics balked.
In many ways, Illinois may have already crossed the Rubicon.
Our analysis at OpenTheBooks.com shows that an Illinois family of four now owes more in unfunded pension liabilities ($76,000) than they earn in household income ($63,585). In a state of 13 million residents, every man, woman, and child owes $19,000 — on an estimated $251 billion pension liability.
Our auditors discovered 110,000 public employees and retirees who earned more than $100,000 last year. More
..pull it out of your lawyer a**es
For Illinois dwellers. This crap you’re eating is brought to you poor bastards courtesy of the Chicago boys who will soon show you a sinking ship shit storm you will not like at all.
And the oncoming Greatest Depression is going to seal their fate.
Chicago is Americas herpes blister.
Of course they expect the rest of the country to bail out a state that produces nothing but criminals.
Liberals love. to tax and spend as though the bill will never Come due.
In 2 words, what’s wrong in Illinois? Mike Madigan, the Speaker. He has been Speaker for over 20 years and the list of his corruptions is a mile long.
He lies, raises taxes like crazy and has to be the single biggest reason that IL is losing population.
His largest contributors are trail lawyers and unions(especially the teacher’s unions).
He’s responsible for amending the IL Constitution such that the pensions of government and union workers can NEVER be reduced and always must be paid what was promised. And paid first.
Can you dig it?
They really expect President Trump will bail them out and I’ll tell you, if he does, my fucking head will explode.
I’ve already wasted about $34,000 to pensions in the state of Shitnois via property taxes alone.
This place sucks balls, I can’t wait to get out. The chinese flu will be used as an excuse why the state will file BK. No other reason will be given. It’s coming very soon.
I live in Illinois and this fat ass millionaire of a governor has a lot of people pissed. Luckily I live in a ‘conservative’ county and we haven’t been harassed by not social distancing, BUT, when I went to my local store to see a sign that we would not be permitted to enter without a face covering May 1st, I just about lost it. This has gone way too far.
usually when people ask for money, they explain why they need it. Why they _really_ need it. That would require admission of incompetence or even corruption. No wonder the democrats want to win so bad- they have to try to keep their train wreck on the rails. They want it so bad, they’ll do anything. They’ll (pelosi/shumer) seek funding to get them through a first presidential term, should they win that, and then spend that whole term blaming president Trump for the mess that they initially created.
Give them a small business loan. Or they could start a go fund me page.
hey- they should snag those Belgian potatoes and set up food carts. Other than that- shouldn’t they be inside their houses, watching TV?
Hard to believe this mutation is running IL. Then again the Pritzkers can buy anything. Didn’t Penny get some phony position with Obama?
A bit of tax trivia on our governor J.B. “Toilets” Pritzker. When he was having his Gold Coast mansion rehabbed here in Chicago he had all the toilets removed for the duration so the property could be taxed as “uninhabitable “. Taxation for thee and not for me.
When our last Republican governor, Rauner, was in office he could do nothing to change the status quo because of the stranglehold Madigan has on the legislature. And then the Chicago machine ensured we would have another Democrat. Corruption is built into the fabric of Democrat run cities and states.
Interesting how we all get to share the pain but never get to share the largesse!
It’s all going to work out. You see, Illinois minimum wage is going to be $10/ hour this July.
It’s going to increase $1 each year until it hits $15/ hour in 2025.
They are going to extend and pretend until they can’t do it anymore.
Promises that cannot be kept, won’t be.