Illinois Stops Paying Its Bills, but Can’t Stop Digging Hole

Discussion in 'Economics' started by SomeYoungGuy, Jul 3, 2010.

  1. http://www.nytimes.com/2010/07/03/business/economy/03illinois.html?src=busln

    Clifs notes: Illinois' finances are in the crapper.

    Is anybody gonna step up and and say "stop spending" to gov't? I don't think so. All the people smart enough and strong enough to say it are in private industry, making their fortune and leaving their mark on posterity. Politicians are doing what they do, catering to the masses who have grown accustomed to suckling the gov't tit.
     
  2. arnie just rolled back 50,000 union people, some of whom making 65k+ a year to minimum wage (7.25 or 7.50). thats pretty gangster..
     
  3. I live in Illinois and that Democrat governor's ass is grass !!
     

  4. Actually the number is greater than 200,000 people.

    This means we can probably expect an extra 200,000 forclosures in the next few months.
     
  5. Illinois, where Obama as State Rep., learned how to govern.
     
  6. I wonder when IL, CA and NY will stop paying state pensions?
     
  7. Frankly, I don't see the point. Ya think anyone who reads the NY Times really gives a shit about Illonois? Maybe this is just a misery loves company article for the state of finances in NY.

    Illonois is not going to lead the way out of this mess for any state to follow as an example. Truth is, everybody has a finger pointing at someone else.
     
  8. ashatet

    ashatet

    I live in Illinois and work in Chicago and its not a bad place to be, until you hear about these horror stories where they will jack up the taces on a broke population so that they can pay the hefty pensions. Chicago is a great city to vacation, but if you book a hotel, you will be slapped lots of money in taxes, eat and they tax you, cigarettes are $10. They have already taxed the heck out of the system. Try parking and it could cost you up to $40 for the day.
     
  9. TGregg

    TGregg

    Elect one of your boys to the Whitehouse and spend the snot out of every dime you ever dreamt of having. Guess what happens next? A bailout for your state! Yay.

    So we'll all get to pay for this. Well, all of us suckers stoopid enough to earn a living, anyway. Obama voters however will be looking pretty smart and laughing as the bills come due.
     
  10. <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/P36x8rTb3jI&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/P36x8rTb3jI&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>

    <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/dLsNOEt0EX8&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/dLsNOEt0EX8&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>

    <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/19v5Kjmc8FI&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/19v5Kjmc8FI&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>
     
    #10     Jul 4, 2010