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<blockquote data-quote="Wally" data-source="post: 2850354" data-attributes="member: 46212"><a href="http://chicago.suntimes.com/opinion/opinion-top-10-reasons-why-illinois-fell-into-financial-abyss/" target="_blank">Opinion: Top 10 reasons why Illinois fell into financial abyss</a>#1. Years of poor financial managementEven aside from the pension problem, in recent years policymakers have carried over deficits, delayed payments, used one-time money, and resorted to other budgetary tricks to get from one fiscal year to the next. Simply put, this comes from a short-sighted focus on the next election. The result has been a huge structural deficit that no longer can be ignored. Fixing this requires service cuts and tax hikes, neither of which anyone likes — least of all legislators who have to explain them to voters.Free stuff mentality. That is the problem. No bailouts, deal with it yourself IL, CA, NJ, NY.</blockquote>

[QUOTE="Wally, post: 2850354, member: 46212"] [URL="http://chicago.suntimes.com/opinion/opinion-top-10-reasons-why-illinois-fell-into-financial-abyss/"]Opinion: Top 10 reasons why Illinois fell into financial abyss[/URL] [I]#1. Years of poor financial management Even aside from the pension problem, in recent years policymakers have carried over deficits, delayed payments, used one-time money, and resorted to other budgetary tricks to get from one fiscal year to the next. Simply put, this comes from a short-sighted focus on the next election. The result has been a huge structural deficit that no longer can be ignored. Fixing this requires service cuts and tax hikes, neither of which anyone likes — least of all legislators who have to explain them to voters. [/I] Free stuff mentality. That is the problem. No bailouts, deal with it yourself IL, CA, NJ, NY. [/QUOTE]

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