Off-Topic: Deadbeat Dimocrats Billions in Illinois bills not
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Name:
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MartiniMan
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Subject:
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Deadbeat Dimocrats Billions in Illinois bills not
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Date:
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10/11/2017 12:28:15 PM
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The problem with states is that unlike the federal govt, they can't print money to pay their bills. They can try to issue bonds but I suspect Illinois is probably rated as low as Greece when it comes to that and can't be expected to pay them back, especially since the interest rate will be a killer. What is even more daunting for the state is that this doesn't even get to their pension liability which is vastly underfunded. When them chickens come home to roost they will have to raise taxes so much they will be like California as it relates to middle class flight. Businesses are already abandoning the state in droves. Unfortunately far too many of those idiots that voted for ruinous policies in the past tend to do it to the states they flee to.
And let me derail Goofy before he gets going about the fact that the governor is currently a Republican. This is a mess created by the legislature and past Democrat governors and until the people of Illinois wake up and come their senses, having a GOP governor isn't going to help. Democrats controlled the governship and state legislature from 2003 to 2014 and still control the legislature. GOP hasn't controlled the legislature since 1996.
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