Illinois to go bankrupt?

[Wally]

Could Illinois be the first state to file for bankruptcy?

 

[silverbullet2893]

Could Illinois be the first state to file for bankruptcy?

Illinois could up a soup sammich

 

[rickyb]

yes, and be afraid be very afraid. ive been hearing about this stuff for some time now.

btw USA is the richest country in the history of the world, so this is purely a political problem, not an economic one

 

[burrheadd]

yes, and be afraid be very afraid. ive been hearing about this stuff for some time now.

btw USA is the richest country in the history of the world, so this is purely a political problem, not an economic one

Is it still snowing in Canada?

 

[burrheadd]

Could Illinois be the first state to file for bankruptcy?

Iam tellin ya right now free the weed and tax the sheet out of it problem solved

 

[newfie]

Iam tellin ya right now free the weed and tax the sheet out of it problem solved

still have to control it to tax it

 

[burrheadd]

still have to control it to tax it

Ok

 

[UpstateNYUPSer(Ret)]

yes, and be afraid be very afraid. ive been hearing about this stuff for some time now.

btw USA is the richest country in the history of the world, so this is purely a political problem, not an economic one

Illinois, most notably Chicago, has been politically bankrupt for quite some time.

Detroit had some very serious financial issues but has been able to turn most of those issues around.

It will take time and a lot of tough choices but Illinois will be able to turn around their financial woes without having to file for bankruptcy.

 

[Indecisi0n]

Thank you Trump.

 

[newfie]

Illinois, most notably Chicago, has been politically bankrupt for quite some time.

Detroit had some very serious financial issues but has been able to turn most of those issues around.

It will take time and a lot of tough choices but Illinois will be able to turn around their financial woes without having to file for bankruptcy.

how do you figure?

 

[rickyb]

Illinois, most notably Chicago, has been politically bankrupt for quite some time.

Detroit had some very serious financial issues but has been able to turn most of those issues around.

It will take time and a lot of tough choices but Illinois will be able to turn around their financial woes without having to file for bankruptcy.

detroit was a disaster with the governor appointing what was it, and emergency financial manager or whatever. truly undemocratic. im guessing whatever hard decisions they made primarily affected average joes and not the rich.

 

[bbsam]

Illinois, most notably Chicago, has been politically bankrupt for quite some time.

Detroit had some very serious financial issues but has been able to turn most of those issues around.

It will take time and a lot of tough choices but Illinois will be able to turn around their financial woes without having to file for bankruptcy.

I highly doubt it.

 

[vantexan]

But, but, I thought tax-and-spend liberalism always works?!!

 

[It will be fine]

But, but, I thought tax-and-spend liberalism always works?!!

How many of their former recent governors are in prison? All the spending might not be on the up and up.

 

[vantexan]

How many of their former recent governors are in prison? All the spending might not be on the up and up.

Think all the spending is on the up and up elsewhere? Illinois seems to have made it an art form though.

 

[It will be fine]

Think all the spending is on the up and up elsewhere? Illinois seems to have made it an art form though.

I think the lesson is long term one party rule doesn't work out too well. The democrats have controlled the state legislature forever. No checks and balances leads to too much cronyism. Elected officials need to fear for their jobs.

 

[vantexan]

I think the lesson is long term one party rule doesn't work out too well. The democrats have controlled the state legislature forever. No checks and balances leads to too much cronyism. Elected officials need to fear for their jobs.

The graft is a problem but ultimately it's spending more than you take in. Taking on more debt to meet spending leads eventually to difficulty servicing the debt. Which leads to downgrading of credit rating, which leads to higher interest to borrow more. Which eventually leads to what Illinois is up against. What Puerto Rico is facing.

 

[Jkloc420]

@Future

 

[bbsam]

But, but, I thought tax-and-spend liberalism always works?!!

Sure. But there has to be honesty involved. Can't spend, spend, spend and then cut taxes to "grow the economy".

Now a couple states over, Kansas with their republican governor is really doing well...oh...

 

[Babagounj]

Who will get bailed out first ?
Ill or PR ?
We can't just print enough money to do both.