Thread replies: 11
Thread images: 1
Thread images: 1
Anonymous
How Illinois became America's most messed-up state 2017-06-30 05:15:30 Post No. 153185
[Report] Image search: [Google]
How Illinois became America's most messed-up state 2017-06-30 05:15:30 Post No. 153185
[Report] Image search: [Google]
File: cpusa-obama.jpg (134KB, 600x430px) Image search:
[Google]
134KB, 600x430px
How Illinois became America's most messed-up state
Anonymous
2017-06-30 05:15:30
Post No. 153185
[Report]
$251 billion pension time bomb. Politicians are notorious for making promises they can't keep. But they really outdid themselves in Illinois -- and now the state is paying for it.
Illinois is on the verge of becoming America's first state with a junk credit rating. The financial mess is the inevitable result of spending more on pensions and services than the state could afford -- then covering it up with reckless budget tricks.
The budget crisis has forced Illinois to jack up property taxes so high that people are leaving in droves. Illinois may soon have to take the unprecedented step of cutting off sales of lottery tickets because the state won't be able to pay winners.
"Illinois got to this financially treacherous place by ignoring the long-term consequences of short-term decision-making," said Laurence Msall, the president of Civic Federation, a budget watchdog organization.
The most glaring evidence is the enormous pension crisis. Rather than dealing with the problem, Illinois continued to reward the state's powerful unions with more generous benefits.
The problem festered for so long that Moody's estimates Illinois has unfunded pension liabilities totaling $251 billion.
"All of these problems are governance and management weaknesses," Hampton said. That's a polite way of saying the political leaders broke the system.
http://money.cnn.com/2017/06/29/investing/illinois-budget-crisis-downgrade/index.html
>>
>>153185
I was gonna click the link but then I was like
>CNN
>>
oh wow
notice how both the communist propaganda poster and a cookie cutter campaign poster featuring Obama are colored with red, white, and blue?
coincidence?
or something more?
>>
>>153204
Notice how they both feature words, and likenesses of human beings. It's obviously the zionists trying to brainwash us into speaking english. Hey - I think it's working!!!!!!!
>>
>>153186
Truuuuuuuuu
>>
>>153185
Illinois is a fund for Chicago pensions
>>
i just posted a column from a chicago paper from last week. its not cancer news network so enjoy.
>>
>>153247
What do you mean?
>>
>>153185
>America's first state with a junk credit rating
Didn't California declare bankruptcy years back?
>>
>>153255
>Raise taxes statewide to pay for Chicago issues, crime, and government officials
>Expand government to deal with problems that never get solved
>Raise taxes
>People begin to leave the state, state income drops
>Raise taxes to make up for loss of income
>Continue to not fix problems, increase government job wages and hire more government workers
>State in massive debt
>Raise taxes
>Business begin to exodus from state, industry and agriculture suffer, more people leave to other states
>Income in state is dangerously low...
>Raise taxes, increase government size and penalize gun owners by inflicting harsh ownership fines and restrict purchases on ammo and guns
>More people leave
>City is now only criminals and beuracracy
>Negative income and zero problems solved
>Solution?
>Raise taxes
>>
Pensions always kill v companies and states. Comes a point when you got more on pension than workIng.
Thread posts: 11
Thread images: 1
Thread images: 1