Wow – Standard and Poor’s Threaten Illinois With Municipal “Junk Bond” Status – First State Ever Facing “Junk Bond” Status…

There was a widely read Chicago Tribune op-ed written a few days ago outlining an approach to dissolve the entire state and apportion the geography to Wisconsin, Indiana, Kentucky, Missouri and Iowa. –SEE HERE–  It was written tongue-in-cheek, but with an uncomfortable level of reality behind it.

Illinois has been struggling with its finances for a long, long time.

The Illinois long-term labor pension liabilities are ridiculous in the extreme.  However, things just went from bad to jaw-droppingly, gobsmackingly, unbelievably worse.

 

According to the latest financial media reports, Standard and Poors Global Ratings agency has positioned Illinois bonds to drop below “investment” grade; that would make Illinois the first state in the nation to achieve “junk bond” status.

(Via ABC) Illinois is on track to become the first U.S. state to have its credit rating downgraded to “junk” status, which would deepen its multibillion-dollar deficit and cost taxpayers more for years to come.

S&P Global Ratings has warned the agency will likely lower Illinois’ creditworthiness to below investment grade if feuding lawmakers fail to agree on a state budget for a third straight year, increasing the amount the state will have to pay to borrow money for things such as building roads or refinancing existing debt.

The outlook for a deal wasn’t good Saturday, as lawmakers meeting in Springfield for a special legislative session remained deadlocked with the July 1 start of the new fiscal year approaching.

That should alarm everyone, not just those at the Capitol, said Brian Battle, director at Performance Trust Capital Partners, a Chicago-based investment firm.

“It isn’t a political show,” he said. “Everyone in Illinois has a stake in what’s happening here. One day everybody will wake up and say ‘What happened? Why are my taxes going up so much?'”  (read more)

Ouch !

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519 Responses to Wow – Standard and Poor’s Threaten Illinois With Municipal “Junk Bond” Status – First State Ever Facing “Junk Bond” Status…

  1. Watcher says:

    But if we got the Olympics, all would be solved.

    Liked by 4 people

    • MAGADJT says:

      This is what comes with long-term Democrat rule. Why people can’t connect the dots on this is beyond me.

      Liked by 14 people

      • Lostokie says:

        If you look at a county voting map most counties in Illinois vote Republican. Unfortunately, the state of Illinois is controlled by three counties: Cook, Lake, (both Chicago) and St. Clair (across the river from St. Louis). Cook and Lake counties have more inhabitants than the rest of the state combined.

        FYI – I haven’t heard one politician say they are worried about Illinois’ bond status.

        Liked by 3 people

  2. willvecchio says:

    I have a theory about Chicago, but I don’t know the cause, I only know the effect: Somehow, the city that burned down in he great fire got corrupted more or less permanently as a result of that fire.

    Can anybody connect the dots?

    Liked by 4 people

    • boogywstew says:

      Did anyone ever take the time to see if Mrs.O’Leary’s cow didn’t run up some astronomical debt and stuck it to the city? You know how cows are with credit cards.

      Liked by 11 people

    • Exmil-UK says:

      Chicago was the birth place of CPUSA, the slavishly pro-Moscow (USSR) communist party that, with its successor organizations, which now dominates the National Democratic party. It is a malignant cancer on Chicago, the Very left wing of the Uniparty.

      Blatant racial patronage, check. [x]
      Communist Union racketeering. [x]

      The intellectual poison that is CPUSA, funded by generations of Red-diaper babies in corrupted Banking, institutions and trusts, including Fed. Reserve banks, infiltrated US academic life, and through that the entire body of Western Civilization itself.

      Trump, Americanism and the US constitution are the only antidote.

      Liked by 10 people

      • pyromancer76 says:

        And remember the vicious treatment of “industrial food animals” that was the Chicago stockyards. I believe that the urban serial killer originated in Chicago, too

        Liked by 2 people

      • Comrade Mope says:

        This is exactly correct. A direct line can be drawn from Obama through Danny Davis, Carol Mosely-Braun, Mayor Harold Washington, journalist Vernon Jarrett (Val’s daddy) to Frank Marshal Davis. Toss in Bill Ayers, Bernadine Dorhn and the New Black Panther Party and you pretty much get the flavor of their Communism.

        Liked by 4 people

          • remuda2016 says:

            Oh boy, The ‘Windy City’… my home birthplace…a place to visit…but not live…
            Al Capone, Valentine’s Day Massacre…oh…and let us not forget “The Chicago Four” https://www.youtube.com/watch?v=HcPGN4RyrFY
            and then long ago there was Richard Speck…

            Like

            • remuda2016 says:

              My home of record and fond memories of Grandpa’s farm and “happy…’good old’…days”…Illinois–Land O’ Lincoln…also home of the latest product of socialist liberal violence…

              Liked by 1 person

              • remuda2016 says:

                And…originator of a new ‘cancer’ with a familiar-sounding name–“Hodgkinson’s Disease”…which…unlike the ‘other’…is infectious as the liberal media and so-called progressives ‘liberally’ spread the ‘airborne’ virus visually, electronically, deliberately and with malice to destroy the only available ‘anti-venom (AKA…truth…justice…and the American Way).

                Like

    • Lostokie says:

      Will, Al Capone is the answer to your question. After he started buying public officials it has never stopped. It is said here, Illinois’ Governors serve two terms; one in the State’s house (Governor’s mansion) and one in the big house (prison).

      Liked by 1 person

  3. RedBallExpress says:

    Many blacks in Chicago get free cars every year. If they don’t take it they don’t get another one. You might think I am kidding but I am dead serious. An extremely intelligent friend (his daughter can beat Stephen Hawking at chess) from Country Club Hills (a Chicago Suburb) told me to tell everyone every chance I get. No one believes me. Many hard working blacks think it is wrong but that is the system. I don’t know if the State pays for it or the Feds. I feel like a fool posting this but it is the truth. They also receive huge housing subsidies.

    Liked by 8 people

  4. chick20112011 says:

    Where is the “hometown guy”, Barry Obama?

    Liked by 2 people

  5. sundance says:

    And people wondered where that “stimulus” money went, and why Rahm Emmanuel left the White House?

    Hello?

    The baseline ARRA was a big part in propping up Illinois for all of the Obama years. I tried to tell folks…. math is math… it fell on deaf ears. [I quit looking at their financials after 2011.]

    Liked by 26 people

    • E C says:

      You are right of course. That’s where I see the president’s revitalization plans for the inner cities hitting roadblocks. Is there a way to secure the money without it being siphoned off for other things? I always hear people saying let the state take care of things…But voila you just provided a perfect example of fiscal mismanagement.

      Liked by 6 people

      • Howie says:

        The liberals in Chicomgo keep their voters down in the ‘quarters’ of their black ghetto. What a mess.

        Liked by 2 people

      • President Trump CAN ensure that Federal Funds for Inner-City “PROGRAMS” (not generic revitalization) do not get siphoned off.

        Set QUALIFICATION CRITERIA to get FIRST-ROUND FUNDING.
        • Federally-audited Budgets that Balance.
        • Federally-audited Termination of Unfunded Liabilities.
        • Rejection of Sanctuaries for Illegals, Migrants and Criminals.
        • Implementation of Best-Practice Law Enforcement Methods.
        • Certified Cooperation of Local and State Authorities with Feds.
        • Commitment to Performance Criteria (below)

        Set PERFORMANCE CRITERIA to get FUTURE-ROUND FUNDING.

        Liked by 3 people

    • LafnH2O says:

      Sundance… so we’ve already BEEN bailing them out… and weren’t paying attention?!

      And they figured we still won’t be paying attention or connecting the dots, so…

      Now, Second bite of the apple mentality?

      Liked by 3 people

    • Somewhere in Dixie says:

      You are correct Sundance. Back in 2008 I told everybody I know that electing Obama was putting Chicago on the Potomac. Many didn’t believe me but they believe me now.

      Liked by 1 person

    • Paul says:

      They Shall Become Lovers Of Themselves

      Chicagoans have made themselves slaves to a one party totalitarian city state for more then three generations, and they pretend not to even know it, It’s not that they are incapable of knowing, they make a lifestyle of pretending not to know, all the while telling themselves it’s the greatest city in the world. I get the whole pride in ones community, to paraphrase Gandhi; what’s life without a little salt hubris, but come on people wake up from your 1920’s Al Capone slumber. It’s almost 2020!

      Your Public Servants work for you, you don’t work for them. Or do you? Some people like to be abused (and pay top dollar for it) speaking of Chicago neighborhood lifestyles. Of course that’s a horse whip of another color, for some other time. The Chicagoan will fight, disown, even kill anyone who gets close to lifting the veil of their complete and all encompassing daily corruption (I’m exaggerating, but not by much-wink wink).

      The Chicagoan lives in a self imposed mass Stockholm Syndrome. I was on the federal grand jury in Chicago that handed down the Libyan indictments of Jeff Fort and the El Rukins in the 1980’s. The first case in U.S. history where American citizens had been convicted for attempting to commit a terrorist act on behalf a foreign government. I listened to the wiretaps, saw the video evidence on that case and many others, this El Rukin Muslim gang along with all the rest of the gangs are in bed with Chicago’s Public Servants, from the mayor on down for over 100 years. It’s a symbiotic relationship. Even DaleyI started out as a gang leader in Bridgeport in the 1940’s, soon he would run DaBoys better then Old Al ever did, and pass the family business to Mayor Daley II so the grand-kids could run the show. Yea, some people just like being abused.

      Chicago’s pension plans are bankrupt. See, it’s not your money, and it never was. The reason why the Board of Education ended the teacher retirement buy out was not because to few “educators” signed up, it was because to many did, the same thing happened recently in Dallas. The people of Chicago have been told that their four pensions (government schools, firefighters, paramedics & police) are protected by state law, then why hasn’t the State arrested the people who have left these pensions tens of billions in the red. They are completely under-funded, so who has the money, where did it go. These pension funds should have been taken over by the state before they hit 70% funding, for some reason they have not. Chicagoan’s choose to fall for the cover story of bad investments, but, like I said, some people like to be abused.

      The city can’t raise taxes fast enough to payoff the upcoming retiring Baby Boomers. Yes, it’s true the city is growing, but in all the wrong ways. The real wage earners, the real tax payers, the real producers are moving out (it’s happening in New Jersey as well as other one party city states) and taking with them their tax dollars, their business, and their leadership, while more and more of the tax base shrinks, only to be replaced by MS-13 and the Black Panthers, along with the ubiquitous community organizers. Don’t worry Chicago the future is bright, the Government Schools have done their jobs well, and are now working hard on the next generation of unthinking fools ready and willing to pretend.

      It is true that the city has decreased government employment rolls from 42,000 to 32,000 (approximately 20%) from 2003-2012, however during that same time period your Public Servants made sure personnel costs increased by 15%. Neat trick, no. Keep telling yourselves Chicago that it’s OK, because this time next year when it goes from very bad to much worser the Demonrats and their News Whores can blame Trump, and all the little Sheeple will say BAA and keep pretending. Enjoy your pretending, along your ride down to Detroitville.

      The only choice is if the poorly served people in these Demonrat municipalities are honest with themselves and demand accountability along with some actual competence form their public servants. That would mean real investigations, with real grand jury’s, real trails, along prison time. Look who’s pretending now, forgive me, but I’m still allowed to dream.

      What good does it do for the people of Illinois to put four of the last seven governors in jail only to maintain the same corrupt system. One thing I learned during my days behind the Iron Curtain (the ultimate crime syndicate) in the late 1970’s and early 1980’s: Some people just liked being abused.

      It seems the only hope of any real urban renewal in Chicago is of the extraterrestrial kind…

      Liked by 1 person

  6. wheatietoo says:

    No bailout.
    NO Bailout!
    Not one dime of our fed tax dollars should go to bail out this profligate state!
    None.
    Nada.
    Zip.

    The Dems made this mess…let them clean it up.

    Govt workers don’t seem to understand that when they do things that hurt businesses…they are shooting themselves in the foot.

    Govt Jobs are negative revenue jobs.
    That’s right.
    Whatever taxes are withheld from govt jobs…are only recycled revenue from the tax dollars that were used to pay for that job.

    Govt Jobs survive on the backs of taxpayers in the Private Sector.

    Why should those private sector taxpayers bail out this mess?
    Answer: They shouldn’t have to!

    Taxpayers have fled Illinois because the Dems there have done things that kill jobs.
    As private sector jobs were killed…the Illinois govt should have cut back on their govt payroll.
    Doesn’t sound like they did that.

    The state borrowed money to keep their bloated govt payroll going.
    Now…it has caught up with them.

    No bailout!
    Let them clean up this mess-of-their-own-making.

    Liked by 22 people

    • M. Mueller says:

      Agree. No bailout. Send Rudy G. in there to clean it all up like he did NYC.

      Illinois is now Greece (but with violence.) We are not the EU and do not want to bail them out; we’d just have to turn around and do the same for California!

      Liked by 10 people

    • wheatietoo says:

      Yikes…sorry about the excessive bold in that comment.
      Like an idiot, I neglected to close the tag.

      Liked by 1 person

      • bolshevict says:

        I wonder if there’s an option for putting Illinois into a form of receivership….let adults run things for a while.

        Prediction: any real solution will result in big cuts and both state employees and the dependent classes will riot.

        Liked by 2 people

        • E C says:

          That seems like a practical solution. The leadership is not going to change their behavior.

          Like

        • dayallaxeded says:

          The Puerto Rico debt solution ramrodded through congress by uniparty shills last year will be applied to Ill; it’s anybody’s guess whether PDJT can get sufficient control of it to prevent exploitation by banksters, like Bain Crapital or even turn it to Ill’s advantage by actually installing sound management. I think SD warned of this in posts about the PR debt “crisis.”

          Liked by 1 person

        • Helen says:

          We have a Republican governor, we can all vote for governor, but there is a veto proof legislation elected by the more dense populations. They vote everything for themselves while we downstaters get nothing but the bill.

          Liked by 1 person

      • SpanglishKC says:

        What is a tag?

        I thought your’e points were spot on. I liked the bold emphasis.

        You bail one you bail them all. We need to stay the hell away from that mess.

        Liked by 2 people

        • wheatietoo says:

          Thanks…a tag is the ‘code’ that you put around the words that you want to change into bold or italics.

          And you make a great point…if we bail out one, we’d have to bail out the others.
          Ugh. What a horrible thought, huh?

          Liked by 1 person

          • Eskyman says:

            @SpanglishKC and anyone interested: Here’s a cheatsheet which shows simple HTML code for those who don’t know it. For emphasis in comments sections of many blogs, the section on “Text Formatting” shows how to make your text bold, or italic, underlined, and so forth.

            http://www.simplehtmlguide.com/cheatsheet.php

            An easy mistake to make is forgetting to “close the tag” which means that you’ve started the emphasis, but have forgotten to put the closing tag where you want the emphasis to end; on some blogs this can leak over to following comments, and cause all the comments below the opening tag to become enphasised, so be careful to always close your tags!

            Liked by 3 people

      • Your bold was worthy!

        Liked by 2 people

    • Wheetie, You wrote:”The Dems made this mess…let them clean it up” I have an observation: Demos make these messes on purpose EXPECTING us to throw our money at it. They LIKE theft, destruction, and death. It’s a direct reflection of their father the Devil. Look at every single bar none city where leftists are in charge. It’s always the same. It’s not hapless, random or accidental . IT”S ON PURPOSE! (BTW you are one of my favorite Treepers)

      Liked by 4 people

    • Jenny R. says:

      They did not cut their payroll — in fact, they voted themselves an increase. There are very few even decent people that run for political office in IL, on any side. Which means many voters don’t even vote anymore, or if they do only in local elections (and those are corrupt to the core as well: the Democrat and Republican state parties are machines that would make Boss Tweed jealous).

      Right now the IL legislators are only trying to find a way to do two things: 1) keep their fat pensions and salaries; 2) avoid looking like the one responsible for this (they are in dog eat dog mode right now: absolutely no loyalty to anyone but themselves…fear of Mike Madigan might be an operative factor).

      Part of the pension issue goes back some years ago, when some lawmaker got the bright idea that to encourage younger workers to stay in the state, they’d off very fat pension packages to older state workers (including teachers)….now we have a deficit in workers (teachers mostly) because nobody wants to stay in the state and taxpayers are on the hook for paying those lavish pensions.
      Of course, this thing — like much of the legislation in the LoL — never really went up for a public perusal (you have to pass the bill to see what is in it) but Chicago/EStL and surrounding counties will always drive it home for the leftists (and they’ve usually got Rock Island/Peoria/Champaign-Urbana to help them out too).

      I know people from my area of the state of often talked about splitting off from upstate…right now most of them would be really happy if Kentucky or Indiana took our part of the state — which south of I74 and east of Rt. 51 is probably the best bargain, Indiana would get some nice resources, not many people, and barring UofI (which surprisingly isn’t as left leaning as Indiana’s own IU in Bloomington) the reddest part of the state (but we know that Missouri, Wisconsin, Iowa would never go for taking their respective parts). Short of splitting the state up the only recourse is for people who can to get out — which leaves the working/lower middle class homeowners behind…other states better be prepared to get our companies, but also our wealthy white liberals and our welfare folks (and ours are particularly toxic: see Chicago and EStL). This is going to make the Cali exodus look like nothing.

      Actually, a person wise in the ways of creative destruction = opportunity could see that this might be a good thing in the long, long term for Illinois…

      Liked by 3 people

      • Jenny R. says:

        Actually, I amend that: if Indiana took the part that cuts off at about Kankakee and just east of Springfield, they’d get the reddest part of the state (there are other parts, but it would have to be portioned off in geographic parts). Unfortunately, the great migration would/is ensuing….

        Like

      • Bendix says:

        Truth, people tend to blame the fact that workers get a pension AT ALL, but in fact, it is the interference of the politicians in the system, particularly the retroactive “sweeteners”, that ruin the system.
        Also the globalist engineered worldwide financial crash wreaked havoc on these systems.
        We’ve had a mass exodus in New York, but we import so many immigrants as replacements, the real numbers can’t be seen.

        Liked by 1 person

  7. I can’t even begin to describe how sad all of this makes me… 😦

    Liked by 4 people

    • Gil says:

      I just had the same thought. Rereading comments in the thread, lots of sarcasm and humor, but repeated stories from varied once mighty states. Depressing.
      Maybe Sundance will find a great positive topic to post tommorrow. 😟🤗

      Liked by 3 people

      • It is truly heartbreaking. Illinois was once the pride of the prairie, Chicago was the birthplace of the modern skyscraper that forever revolutionized our skylines, Lincoln practiced law here before he went on to save the Union… it’s just so sad what it has become. Same with New York and California, once mighty states of American power and pride that have been infected by the deadly virus known as progressivism.

        It’s hard to hang on to hope right now in Illinois, but for the sake of my home we must press on.

        Liked by 5 people

        • Howie says:

          Y’all oughta run off the progs.

          Liked by 2 people

          • bolshevict says:

            Don’t tell that to Indiana, Wisc, Iowa….once the cuts to entitlements start….

            Some smart Governor is going to implement a full year residency requirement (or similar) for gov. freebies, to encourage the human waste pouring out of Illinois to go elsewhere.

            Liked by 1 person

          • Every Red State needs an IMMEDIATE Constitutional Amendment [for protection from Dem Voter Takeovers] requiring a 5-year residency to qualify to vote.

            Liked by 2 people

          • Been tryin’ Howie, but they’ve got a stranglehold on the government. Then we not only have the progs but we’ve got the McCain buddy Kinzinger and a lot of RINOs too! Ugh, it’s overwhelming but it may just thrust me into politics someday! 😉

            Like

        • Frankly Ben says:

          Did Lincoln practice law in Chicago? I thought he only practiced in Springfield when he wasn’t “riding the circuit”.

          Liked by 1 person

          • Jenny R. says:

            Charleston ; he was a circuit lawyer around Charleston, IL . That’s were his father and step-mother’s cabin was at (interesting note: he was not an occupant and only visited) and where the Lincoln-Douglas debates took place as well.

            Like

          • Not to my knowledge… I was referencing his practice in Springfield. He did some other things too but I think he was mostly in Central Illinois.

            Like

    • haditwgov says:

      Another perspective, when not if Illinois crashes she shall take all the rest of us for the ride. How far down the slope do we all go?

      Liked by 1 person

      • Good question. It must be answered at some point because if not Illinois, California and New York will be next. Reckless spending, soaring taxes, and ballooning social welfare programs are a recipe many states have used, and it’s going to be rough changing the dynamic to something sustainable… especially when “The Big Club” and their mindless sheeple don’t want to change it.

        Like

    • Somewhere in Dixie says:

      I think that the Daley crime family finally saw it coming and decided to get out before the collapse that, of course, they contributed to create.

      Liked by 2 people

      • That’s an interesting possibility. If so, they were actually the smarter ones because if you’re gonna set something on fire you definitely don’t want to get caught in the flames.

        Like

    • Jenny R. says:

      How do you think us downstaters feel? (If you are not from one of the city areas I listed, then you do feel me). This is what happens when one major metro area calls the shots forever in a state (and can’t be outvoted), and especially if it has delusions of being DC West.
      I love my little area of the LoL, but reality is reality: there are more corn and soybeans than people, and crops don’t vote. My advice would be to get out if you can and soon. Me? I’m stuck here (fortunately, getting by is a bit easier in the countryside).
      I’m kinda liking the idea of being sold to Indiana or Kentucky at the moment — the history is still there, the land is still there, just under a new name, but with the prospects of finally being free of Chicago and StL.
      In my 50 years of life the government of IL has done nothing for me or mine — except use us as a tax farm (we don’t even get to be vote cattle — they don’t even pay us the lip service of an occasional pander; just “pay up peasants!”).

      Liked by 2 people

      • Believe me Jenny, I know exactly how you feel (I’m downstate too in the middle of beautiful farm country). Sadly, Illinois is not an isolated case either like you mention. NYC does it to New York State, The coast does it to California, Seattle does it to Washington, etc.

        I would be interested though what true numbers would be if every conservative voted. I know downstate many do not vote because they feel it is pointless given Chicago’s sway, and then I talked to a conservative friend who grew up in Chicago and he said conservatives there don’t vote because they feel like the liberals are just going to out vote them.

        If we could get every conservative out to vote and get voter fraud curtailed (that in and of itself is huge), then I think a lot of places would fair much better. We outnumber the progs nationally (proven by our incredible boycott influence), I think its time we test it at the local levels in blue states. 🙂

        Like

  8. wheatietoo says:

    Ben Garrison’s cartoon about this is spot on, as usual.

    Liked by 9 people

    • Remington..... says:

      …And who will be next? My money is on Kalifornia.

      Liked by 3 people

    • CiscoKid says:

      I take issue w/ pensions being blamed solely.
      Illinois and Chicago have funded only 30% of their pension obligations.
      Quite famously they invented, “pension holidays.
      When a payment was due, they took a holiday and didn’t pay in yet still took employees share every paycheck.
      Try tell you bank 2 or 3 times a year that your taking a mortgage holiday and you’ll pay next year.

      Liked by 1 person

      • deqwik2 says:

        The way they invested the money was not right either. They put money in risky stock to try to make higher % instead of safer stock with the low % & lost it during the recession.

        Like

        • Comrade Mope says:

          This is not accurate, not wrong, just not accurate. The pension boards of the municipal workers are in themselves a “perk” for supporting the correct candidates. A pension board decides to invest in something, and sometimes (cough) those investments go south because they were some politician’s mortgage company, or some solar wind plant, not always, but sometimes the investments are lost because it needs to be “lost”.

          Liked by 5 people

          • deqwik2 says:

            Like someone that got a 3.5 million dollar bonus for placing some of the bonds

            Liked by 2 people

          • Bendix says:

            It’s accurate, but it’s part of the story.
            No matter, the MSM has infected the public mind with Pension Envy. I have heard people complain directly to the people holding jobs for which they will receive a pension. That is, if the politicians haven’t ruined it for them.
            A man in the Post Office made a snotty crack to the clerk behind the counter, about how he’d like to have her pension. I wanted to tell him to quit what he was doing, take the exam, and go to work for the Post Office, then. People stuck in those crappy jobs because they made the attempt way back when, to attempt to secure their future, do not deserve the ire of the public, which rightfully belongs to the politicians, many of whom they keep returning to office.

            Liked by 1 person

            • Comrade Mope says:

              Bendix, I took the classes then the exam for a government job. Twice I was asked “who sent you”, once I was ‘overqualified’, once ignored, once the resume and application were said to be “on file”. As for them being “crappy” jobs, if the jobs were so crappy why not put them up for bid? Let the free market decide how much the jobs pay. Qualified applicants could say: “I’ll do that job for 42,000 per year”, or some such thing.
              The ire of the public stems from not being able to control the negotiations and the seeming clique-ish nature of anyone that does land one of those jobs. It should be ten years and out for any government job.

              Like

      • trapper says:

        I agree. See my comments up-thread.

        Like

      • E C says:

        It is a well known fact that for decades under republican and democrat reign, the state balanced the budget by squeezing Medicaid payments and skipping pension payments. My son is a teacher right outside of the city. I saw his pay stub when he first started teaching. Almost 13% is for pension, no SS. I pay half SS and 6% into my 401K and he is still paying more than me. The sad part is he thinks told me from jump street that he probably wouldn’t see any of this money down the road.

        One issue with the pension that isn’t addressed is that people are drawing from the system who haven’t paid into the system. This is done courtesy of the politicians. I guess you can work a minimum of hours and qualify for full benefits. If they wanted to do a down and dirty quick savings, they would first kick those leeches off and make them repay the money. Then start the painful process of changing over to a manageable system.

        Like

      • Bendix says:

        I made a post about this. Politicians love to blame the cleaning lady who gets a check for $200.00 every month.
        The media loves to go along with this, and disseminate the misinformation.
        I think it’s because reporters are envious of their counterparts in government, who get pensions and benefits that they don’t.
        The person who shelves books in the library gets nothing like what the connected hack spokesperson in the governor’s office gets.

        Like

  9. M. Mueller says:

    I’m in Wisconsin, and I want to say thank you to Gov. Walker.

    The problem I see is that I don’t want the Chicago group moving here. I bet Arizona and Texas don’t want the California snowflakes moving there and voting the same things in either. It is like a virus that spreads. Maybe you should have to live in a state at least 5 years before you can vote there.

    What a mess.

    Liked by 4 people

    • Recently my brother bought land in the Driftless region, and my sister bought a lake house in the Delavan area. Both are rabid Conservative Trump supporters, and traditional Catholics. Many in Illinois will be a good addition. You just have to screen them!

      Liked by 2 people

    • Howie says:

      Ban government employee unions. That is the solution.

      Liked by 9 people

      • Comrade Mope says:

        Either ban the government union or by taking the government paycheck you waive your right to vote. You cannot sit on both sides of the negotiating table.

        Liked by 4 people

    • prusmc says:

      M. Mueller:
      The California snowflakes already have submerged the natives in Colorado and Nevada. Of course they are supporting the same policies and politicos who destroyed the Golden State. Look at Arizona with McCain and “flakey Floyd” and you see democrats in 2020. Texas will likely hold out until 2024 to vote for Corey Booker or Amanda Harris second term.

      Liked by 1 person

    • peace says:

      Many of us in Illinois are strong Trump supporters and much of Illinois is red so Wisconsin would welcome us with open arms. Wisconsin would not want the folks living in Chicago and anyone from Cook County.

      Liked by 1 person

      • Christopher Johnson says:

        The wall on all these various plans seems to be “But what about Chicago”?

        Most of the state isn’t broken; Chicago is.

        Remove Chicago and the state turns deep red. Remove Chicago and the budget would be under control.

        The only way to fix Illinois is to remove Chicago from it.

        Liked by 2 people

      • Twinsonic says:

        I live in Cook (Crooked) County in a liberal town called Oak Park, next to the shooting gallery called Chicago – that would be the Austin neighborhood. Oh yeah, I voted for Trump and I am Reagan Republican conservative, if Wisconsin doesn’t want me, I go with a song from the 1970’s hit from R. Dean Taylor, Indiana Wants Me………: )

        Like

    • Remington..... says:

      It depends how you approach people in Arizona when trying to relocate from kalifornia. They will understand if you tell them you are seeking political asylum.

      Like

  10. Howie says:

    The American Sector of the state could join other states. i doubt anyone would want Chicomgo though. Maybe they could join Canada.

    Liked by 2 people

    • Bendix says:

      Even Oprah has pulled out of Chicago.
      I think she knows what’s what; she did programs on the growing gap between the 1% and the rest of us, and she certainly has access to expertise in these areas. Yet she stays quiet.
      I would respect her if she came right out and declared that she was wrong about Obama, that he fooled her.
      She won’t.

      Liked by 1 person

  11. Howie says:

    They will just have to raise taxes to an astronomical level to pay the apparatchiks. People will just have to move to other states until the ultimate collapse. Escape while you can.

    Liked by 1 person

    • Frankly Ben says:

      Except for one little, eensy-beensy fly in the ointment.

      The relationship between the effective tax rate and the amount of tax dollars raised as a result of that rate is not a 1 to 1 linear relationship. If the rate is raised too high actual revenues fall.

      Both inefficient, non-productive government use of money and changes in taxpayer behavior lead to lowered economic activity and a drop in revenues collected.

      So Illinois is in a bind. The culprits who got them into this mess would have to undergo a reversal of behavior to reverse the slide.

      We all know how that will turn out.

      Liked by 1 person

  12. Howie says:

    The tax rate there is 3.75 percent. They will just raise it to 10 percent.
    http://www.tax-rates.org/illinois/income-tax

    Liked by 1 person

    • Howie says:

      QuickFact: The average family pays $2,100.00 in Illinois income taxes. [1]

      Liked by 1 person

      • mightyconservative says:

        Our taxes are waaaaay higher than that, trust me. Dems all blame Rauner, but this rests firmly at the feet of Madigan, Cullerton, and Berrios. They are like Putin, they don’t care who the governor is–it is business as usual for them. Madigan is safe, his stepdaughter is the AG.

        Liked by 1 person

    • Comrade Mope says:

      10% personal tax is still not enough. 37.50% might stop the hemorrhage but that would mean instead of taxpayers leaving one every 15 seconds the would have a line of buses leaving every second. The property taxes are what they are after. Higher property taxes means lower prices for homes, more people underwater…. rinse and repeat.
      The exodus will be like the Okies from “The Grapes of Wrath”, only different.

      Like

  13. Lunatic Fringe says:

    I love Chicago and Illinois.

    I sincerely wonder why they prefer this over living within their means?

    It isn’t rocket science.

    Like

    • Bendix says:

      You have to look at who benefits. The friends and family of politicians and connected cronies have been living like kings, compared to their constituents, for quite some time now.
      Look at the allegedly Democrat Cuomos in New York. Why was Mario, son of a grocer, who spent his career in “public service”, a wealthy man? Why is Andrew rich?
      Both of them, their idea of fiscal restraint was forcing the public to accept cuts in service, for the same amount or even more, of money.
      The public just accepts that these people will live way better than we do.
      Look at Chelsea Clinton. She and her husband don’t even have what could be called jobs, yet they started out married life in a 3.5 million dollar apartment in Manhattan.

      Liked by 2 people

      • Jimmy Jack says:

        Cuomo just increased the age for adulthood for criminal charges to 19. This will be a disaster.

        Andrew and Chris seem to be competing for the title of Crappiest Cuomo.

        Like

  14. Oldskool says:

    Sad to see my home state turn out to be a case study in unchecked corruption. Still have relatives in the Belleville area though, they are now talking of leaving for a conservatively managed state to move to.

    Liked by 1 person

    • Daniel says:

      Look to Detroit. The patterns are what they are. If the burn is slow enough, people will believe Illinois was always this way.

      Liked by 3 people

    • Comrade Mope says:

      Ah Belleville, sweet Belleville, home to DICK Durbin and James Hodgkinson.

      Liked by 1 person

    • trapper says:

      Illinois has been thoroughly corrupt for at least a century. Just google “Len Small” and it will give you an eye opening portal into the underside of Illinois politics. And it could actually be viewed as the birthplace of the Uniparty, since the fundraisers and payoff artists were bipartisan in their payoffs and crooked deals. The same families got richer no matter who held office.

      http://www.chicagotribune.com/news/opinion/ct-per-flashback-small-0619-20110619-story.html

      Although it didn’t start with it, Prohibition can be fingered as a major culprit in the formation of the corruption culture. It gave America organized crime and industrialized political corruption, just as banning recreational drugs gave us the drug cartels, MS-13, and Latin American narcostates..

      Like

      • Bendix says:

        Illinois, home of Hillary Clinton, adopted home of drifter Barack Obama.
        Someone pointed out, and I wish I could remember where I saw it, to give proper credit, that Barack Obama rose too far, too fast, in the corrupt hierarchy of Chicago politics, for there not to be some other outside factor at work.
        When Bill made his “get our coffee” remark, this is what he was referring to.

        Liked by 1 person

        • trapper says:

          Everything about Obama, his background, his record, is an illusion, a fabrication, a cover identity. That’s not even his name. His real name is Barry Soetoro. And exactly how long WAS he in Pakistan, and what was he doing there? Does ANYONE remember him from Columbia? Who discovered him, and when?

          Liked by 1 person

  15. Daniel says:

    Some people stop and laugh at the cause. That’s useless. Some people recognize the cause and the results and simply want to see the whole state burn as proof leftist policy is the problem.

    Some people see that the masses will not be able to understand it — only that failure to “do something” will make them bad people.

    The biggest reason President Trump and his cabinet are not immediately taking actions against the obvious enemies of the USA is that people will not understand and see Trump & Co as the bad guys. This problem extends to the problem of Illinois.

    Liked by 1 person

    • LafnH2O says:

      Don’t just “Stand” there, Do something!!
      or
      Don’t just “Do” something, Stand there!!

      “Let your plans be dark and impenetrable as the night. And WHEN you move, fall like a thunderbolt.”

      Sun Tzu
      “The Art of WAR”

      Liked by 2 people

  16. Pigg says:

    Fitting to see Obama’s library going into a failed State.

    Liked by 3 people

  17. Pigg says:

    Problem is they’ll believe importing more muslim into State will solve their problem. Just watch.

    Like

  18. getfitnow says:

    And this… FTA – Lottery players will not be able to purchase Powerball or Mega Millions tickets in Illinois after the end of this month unless the ongoing state budget impasse is resolved, lottery officials said Thursday.
    http://www.chicagotribune.com/news/ct-illinois-lottery-powerball-megamillions-met-20170615-story.html

    Liked by 1 person

  19. hippielouie says:

    what happens to the lottery winners $$$$ ? big winners have to wait a long time for their checks

    Liked by 2 people

  20. Canoebuilder says:

    Politicians, and I don’t care if they are democrat or republican, know how to spend your money. This is very obvious in state governments and the federal government. The politicians with more liberal view points spend considerably more. Then the only way they can keep feeding this addiction is to take more of your money to spend. Once they have taken all of your money that they can, they look for other sources. For Illinois, the only source of money (if/after being downgraded to JUNK status) will be the federal government. I do not think the liberals in congress will be able to enable this addiction with Trump in the drivers seat. If the politicians in Illinois can not get their act together, pass a sensible, balanced budget, and do what is best for their state and the people, then they deserve to fail (you reap what you sow).

    Liked by 4 people

    • haditwgov says:

      I notice in all the “solutions” being offered by the cocktail crowd one solution is missing. Kick out all the politicians, start a real reset.

      Liked by 4 people

    • prusmc says:

      Dream on Canoebuilder! With a Senate that passes measures 98 to 2 there is not much Trump can do to stop it. If he really wanted to do so? Look to the Puerto Rico bailout as the foot-in the door for Illinois. There is absolutely no intention of making good on the obligations with local resources and home-grown efforts. The USSA will take up the slack and soon there will be 102 Senators and selected states will give up a total of six (6) members of the HOR.

      Like

    • Comrade Mope says:

      I think it is deeper than that. The dollar once had written on it “For all debts public and private”. (Not sure if it still does) The public dollar and the private dollar needs to be separated somehow. The values are different. If, for instance, the cost of living allocation was removed and the value of the dollar diminished, the value received in these pensions would technically be the same number but just wouldn’t buy as much. Then inflation would take over and ‘newer’ dollars would be worth more than ‘older’ dollars. You wouldn’t be lowering the pensions per the Constitution, inflation would be.

      Like

  21. G. Combs says:

    Mz Molly Anna says: “First cut out all illegal welfare and send them back….”

    Actually what you do is apply the exact same rules the World Bank/IMF apply to bankrupt countries who get loans. 😁 (snicker)

    SEE: Structural Adjustment Policies

    Structural Adjustment Policies are economic policies which countries must follow in order to qualify for new World Bank and International Monetary Fund (IMF) loans and help them make debt repayments on the older debts owed to commercial banks, governments and the World Bank. […] SAPs are designed for individual countries but have common guiding principles and features which include export-led growth; privatisation and liberalisation; and the efficiency of the free market.

    SAPs generally require countries to devalue their currencies against the dollar; lift import and export restrictions; balance their budgets and not overspend; and remove price controls and state subsidies.[…]

    Balancing national budgets can be done by raising taxes, which the IMF frowns upon, or by cutting government spending, which it definitely recommends. As a result, SAPs often result in deep cuts in programmes like education, health and social care, and the removal of subsidies designed to control the price of basics such as food and milk. So SAPs hurt the poor most, because they depend heavily on these services and subsidies.

    SAPs encourage countries to focus on the production and export[…]

    The term “Structural Adjustment Program” has gained such a negative connotation that the World Bank and IMF launched a new initiative, the Poverty Reduction Strategy Initiative[…] While the name has changed, with PRSPs, the World Bank is still forcing countries to adopt the same types of policies as SAP[…]

    WOW, Structural Adjustment Programs mean countries have to grow up and put on their Big Boy Pants and STOP spending other people’s money! Who’d a thunk!

    Seems President Trump won’t even have to bother coming up with the idea, he just has to borrow it straight from the World Bank.

    Liked by 7 people

  22. PDQ says:

    Obama was a U.S. senator representing Illinois.

    The legacy that keeps on giving…

    Like

  23. MMinLamesa says:

    The problem is that even REgressives like my sister and her creepy academic husband, who live in Chicago, are starting to get the message. And that means they’re planning on moving and taking their idiocy to some new locale.

    Liked by 1 person

    • Bendix says:

      A lot of New Yorkers have taken their idiocy to the Carolinas. These kinds of people scorn the actual place they leave, and its inhabitants. Then they set about trying to make the new place more like the one they fled.
      That’s the same problem with any immigration – do they go to the new place so they can be like the people in the new place, or do they want to make the new place change to suit them?

      Liked by 3 people

      • trapper says:

        No matter where you go, there you are.

        Like

      • G. Combs says:

        “[…]do they go to the new place so they can be like the people in the new place[…]”

        Actually some of us do. Hubby and I have more in common with our NC neighbors then we ever had with the Commies in the Boston MA area.

        Only thing I am doing is trying to convince my neighbors to home school. 😁

        Liked by 1 person

  24. Bouchart says:

    nuke it from orbit

    Like

  25. 2nd amendment is for life says:

    I live southwest of Chicago. If you look at a the voting map of the state it is 95 percent red. The only places that have blue are Chicago, aurora,Peoria and a couple small counties. This state has alot of problems and they are all because of Mike Madigan. This POS has been in power too long and is your prototypical crooked politician. His daughter is Lisa Madigan and between the 2 they are sucking this state dry. The whole b.s. of our financial problems is because of all the unrealistic deals that have been made with public unions so they can get the vote of these groups with no real plan to get them funded. I know it will be crappy but let the city of Chicago and the state go bankrupt. Then all the politicians will have to explain how this got this point

    Liked by 1 person

    • Beenthere says:

      Maybe Trump will appoint a Preet Bharara type to indict and convict the Madigans the same way they got rid of Sheldon Silver, Speaker of NYS Assembly.

      Like

      • Bendix says:

        Preet didn’t go far enough. I don’t know if it was because he didn’t get the chance, or whether he was dragging his feet.
        There is a rumor that the reason he was fired is because he was protecting Anthony Weiner.
        Even people fairly close to that situation don’t know what was going on there. Anthony himself doesn’t seem to know.
        I’m hoping the new person takes up where Preet left off, and goes even farther.
        That will be difficult, because the Supreme Court has made it harder to prosecute these cases.

        Like

        • Beenthere says:

          He got rid of Shelly. For NYS politics that conviction was the most important for Preet’s career. You have no idea how much of a dictator Silver was in the Assembly for so many years!

          Liked by 1 person

    • Jenny R. says:

      Yeah.
      I’m pretty much of the mind to let it go down (and hopefully see Mike and his child of darkness Lisa in prison — for life).

      And ridiculous pensions and poor investment (and I might add an almost obsessive desire to drive all productive industry out of the state…except for bloody windfarms) are exactly what got us here…well, aside from toxic levels of Uniparty corruption.

      Liked by 1 person

  26. REPOSTED from above for anyone who missed it:

    Every Red State needs an IMMEDIATE Constitutional Amendment [for protection from Dem Voter Migrations & Takeovers] requiring a 5-year residency to qualify to vote.

    Liked by 4 people

  27. President Trump: SOLUTION to INSOLVENT STATES and CITIES

    [After Congress passes the “Revert STATES to TERRITORY Status” Law in the event of Insolvency.]

    Create a STATE STRESS TEST, run by OMB and the Treasury Department, to prevent “too big to fail crises”, like what was just run by the Fed on the Banks:
    • Balanced-Budget Integrity.
    • Unfunded-Mandate Exposure.
    • Fiscal Survivability for Emerging Risks and Crisis Events.
    • Fiscal Sustainability.

    Run these STRESS TESTS annually on the 10 States … and 10 Cities … with the worst Risk Profiles (e.g., Bond Ratings).

    Mandate that the FED DOWNGRADE Financial Institutions that have outstanding loans to entities FAILING their STRESS TESTS:
    • Forces Financial Institutions to DISCONTINUE LENDING to IRRESPONSIBLE STATES & CITIES: No more lending, no more deficits.
    • Forces Financial Institutions to SELL OFF LOANS to higher-interest-rate Lenders: Immediate pain for irresponsible States and Cities.

    Liked by 3 people

    • Beenthere says:

      Many of your ideas exist with the free market system providing a due diligence system through S&P and other ratings. People should be free to invest their money most anywhere they want as long as it’s not in those rogue nations.

      Also, reverting states to territories would set states up to leave & dissolve USA.

      Like

  28. daughnworks247 says:

    I used to sell defined benefit pension plans.
    By happenstance, I discovered an unknown law and it’s how I became a partner.
    I worked closely with fire departments in Florida and various municipalities.
    In my early 20’s, I admit, I was clueless to the politics. I went in blindly and thought fire departments should have 401K plans, as opposed to pension plans, for higher earnings potential (ERISA restricts the investment vehicles of pension plans), and more choices, more person control of their own retirement income.
    BUT…….
    The state of Florida had an obscure law. A total of 4% of ALL fire insurance premium sold within the state was directed towards the funding of a “defined benefit pension plan” for the firefighters of each municipality.
    If the township did not have a “defined benefit” plan, then the state money collected did not flow to the plan for the local firefighters. Annually, the money was then distributed among those townships which DID have a “defined benefit” plan.
    Once I understood the law, I made a run and it’s how I became a partner in the firm. Most fire departments did not know about the benefit.
    It’s a perfect example of how state legislators can screw up a state.
    1. They made fire insurance MORE expensive for every homeowner/biz in the state.
    2. A defined benefit pension was NOT the best vehicle for the firemen.
    3. The administrative costs for each plan were terrific for LOCAL LAWYERS.
    4. Once in place, the law is almost impossible to remove. The firefighters see the contributions as “free” money. The local alderman of a municipality see the contribution, coming from fire ins. as an expense THEY do not have to provide with regular tax dollars from their budgets.
    It was a mess.

    Liked by 3 people

    • LafnH2O says:

      Daughnworks247,
      Great post.
      Being a layman in such things as 401k administrators, a question…
      Why do the employees not get a vote, a say, in which investments are offered in their company’s 401k plan?
      If memory serves, most of the “Choices” I have been given were high stock turnover vehicles. Looks good on the quarterly statement cuz we’re “Actively” managing your portfolio and you are getting the latest “Best” stock positions you’ve heard so much about, but you still made little if no “net” gain… so sorry.
      And does a “Bond” fund of “Managed Bond Funds” not have such “inherently HIGH Management FEES” to be antithetical to the point of investing in it in the first place.
      Do 401k administrators benefit the most, NO matter what the “Options” provided to the employees?

      Like

      • daughnworks247 says:

        General answer – see a pro.
        1. Remember, they make “the vig” on every change, buying or selling.
        2. No one manages money for free.
        3. Your unique prospectus is a goldmine of info. I HIGHLY suggest people read them. Yes, they are boring but think of it as bathroom reading material. Generally, turnover rates are included, which is important. Generally, funds which “churn” to produce fees are quickly found out and exposed.
        4. Besides illegal insider trading, unless you are sitting on the floor of the exchange, don’t ever think you will “get in” first as an individual. Your “fund” might be able to.
        5. 401K’s generally offer several options, including company stock. Do your homework and max out contributions if you can, especially if they are matched by company.
        6. I am aware…. NOT ADVICE…… of several people who “play” their 401K accounts. They follow an up/down three day rule. Most 401K’s have a $25 transfer fee within their accounts (which is cheap). If the market is up for three days, they sell into a cash position. If it’s down for three days, they move back into stock position.
        It’s kind of silly because your particular fund may not follow the tracking of the overall market. In that case, it’s like blindly throwing a dart on the stock reports. AND when there are dramatic shifts in the market, like the Trump run-up, you would have lost a fortune.
        7. In all cases, a public forum is NOT the best place for investment advice. See a pro that you trust.

        Liked by 1 person

        • LafnH2O says:

          Thank You.
          I meant no disrespect. I understand nothing is for feee.
          I also forgot to state my question was not asking for, or expecting, any legal advise. My bad.

          I will take your advise about public forums.

          Thank you, just the same.

          Excellant reply!

          Like

        • testpointwp says:

          The Wall Street Journal proved that throwing a dart at the financial pages was a better strategy than listening to investment advisers. Investors who bought and held securities selected by darts saw the best returns. Darts out-performed analysts on both nominal and risk-adjusted basis.
          The Dartboard column ran for more than 12 years and was discontinued in 2002.

          Like

        • Jimmy Jack says:

          Can you recommend any books or websites for people who want to really learn how to master the kind of financial information?

          Like

  29. Jim Smith says:

    I like the idea of merging the Northern area near Chicago into Wisconsin, but not if we have to root for the Green Bay Packers. That would be a deal breaker.

    Liked by 2 people

  30. trapper says:

    Here’s how Chicago corruption works:

    http://www.commdiginews.com/business-2/ari-emanuels-billion-dollar-uber-payday-and-what-it-means-for-rahm-24532/

    Oh, and Chicago taxi medallions (the taxi license) used to be worth several hundred thousand dollars. Independent taxi drivers used them as their retirement investment. Now with Uber dominating, they can’t give them away. Rahm’s Uber laws wiped out taxi drivers, at the same time it made Rahm’s brother a second fortune. Welcome to Chicago.

    Liked by 1 person

    • Beenthere says:

      Thank God for Uber! Taxi competition —- yeah! I always thought taxi rides were overpriced. Rahm’s brother either is a good investor or another Martha Stewart. In the latter case the Feds will surely go after him.

      Like

  31. daughnworks247 says:

    The Myth of the Unfunded Pension Liability:
    There are two types of pensions, defined contribution and defined benefit.
    Defined Contribution = a percentage of salary, put into a plan, governed by the rules of ERISA, very safe, no spectacular earnings or speculative investments.
    This one is easy.
    Defined Benefit = When the employee retires, they receive a percentage of their income. For example, a teacher retires at 70% of her $50K salary = $35K annually. Often, the retirement amount is indexed to COLA SS#’s for increases.
    Defined Benefit is more difficult for plan administrators because the money contributed every year can vary for each person AND because the law places limitations on what pensions can actually invest in. For ease of explanation, think about CD rates at your local bank or very highly ranked municipal bonds.
    Historically, returns on pension plans normally click along at about 5-10%. We used to figure 7%, industry wide, as a “safe” number.
    But then, Obama came along, Quantitative Easing came with him, and we are stuck, for a decade, with historically low interest rates. This has an enormous impact on defined benefit pension plans, every municipality, and every citizen who pays property taxes, buys cigarettes, beer, food.

    Follow the numbers for the example of the retired teacher:
    Example #1 = $35K annual benefit. At 10% return in our fictitious pension plan, we need a total of $350K in the teacher’s “account” to spin off her $35K benefit.
    $350,000 x 10% = $35,000
    Example #2 = $35K annual benefit, at 2% interest, means we need $1,750,000.
    The difference is $1,400,000 and overwhelming to most aldermen. Now, take that deficiency x the total number of teachers, firemen, police, and municipal employees.

    No one in the financial community thought the great recession/depression would last for more than a year or two. So, allowing a pension plan to NOT meet the funding requirement for a single year or two would not really be a problem. It’s something that could easily have been worked out by a slight change in contributions over someone’s 30-40 year career. Yet, here we are, a decade later, and we’re still at 2%. Low interest rates kill defined benefit pension plans and annihilate municipalities.

    If we return to 3-4% GDP growth and 7% interest rates, the “unfunded” liability problem will go away. The “pool” of money we require for the teacher to retire will lessen substantially ($500K x 7% = $35K, which is greater than the previous $350K pool but miles away from the $1,750,000 pool we needed at 2% interest). So, a headline of “100 Billion in Unfunded Pension Liability” is great for scaring teachers, firemen, police, and gov’t workers but it’s not accurate if we can finally return our economy to normal and get out of the Obama doldrums.

    President Trump’s economic success is imperative not just for jobs in the private sector, or for a healthy manufacturing base, but for the health of our city’s governments and all those who are taxed to support the services of our cities.

    Liked by 1 person

  32. yy4u says:

    In a blog a few months ago, I pondered whether only “message” (media) was enough to carry out a revolution, whether “muscle” (military) also was required. We’re about to find out. We the People voted for Donald Trump, the media (message) is trying to undo that vote. Whether they succeed remains to be seen. My guess is they believe they’ll succeed, that the populace would be passive again as they were when the press (message) destroyed Richard Nixon and Sarah Palin, ruined George W. Bush’s legacy, tried to ruin Reagan’s, that the populace will accept Pence who though a good man is one of them and won’t change the trajectory we’re on toward Globalism. Interesting book we’re reading. Nobody knows how it’ll end since it is being written as we read.

    Liked by 4 people

    • Both bush 1 and 2 ruined their own legacy’s by their actions. Both are huge globalist criminals and traitors to this nation. Bush 1 announced the “new” “world order” and told the UN in 1992 that “it is to the sacred principles enshrined in the united nation’s charter to which the American people will henceforth pledge their allegiance.”

      That’s a load of bovine scat coming from the mouth of a self appointed “elite” globalist traitor. They are and have been tied to the hips of the krooked klinton’s as well and all the way back to the days of Mena, Arkansas. Total criminals working “both sides” of UNIPARTY together to this day. The “Clinton Global Initiative” is a joint effort…

      Liked by 4 people

      • trapper says:

        “it is to the sacred principles enshrined in the united nation’s charter to which the American people will henceforth pledge their allegiance.”

        Perhaps you can help me out and point me in the right direction. I have been googling this quote and although I can find multiple web sites that quote it I cannot find the speech itself, either in GHW Bush’s papers or in any contemporary news reports. In fact, it does not appear he even addressed the UN General Assembly in Feb of 1992 as multiple sites attribute this to.

        So, can you give me a source for the transcript for the entire address so I can read the quote in its context? Thanks.

        Like

  33. 4sure says:

    Does it benefit all of the red states to have these failing hell holes bailed out, so as to keep the libs
    and welfare teat suckers who vote for their corrupt pols. and love the policies in the hell holes in them or let them fail and have the lib voters invade the red states as they flee.?

    Might benefit the red states and be cheaper in the long run to bail them out. Unless the red states take action now to prevent those fleeing from being able to vote in their new found paradises.

    Like

    • Jenny R. says:

      You think one bailout is going to do the trick?
      Actually, IL has been getting bailed out for quite some time (same as some other states) AND bleeding out its lefties to boot. Or rather one could say that its corrupt politicians and its metro areas have been getting bailed out, and that’s who will be bailed out again.
      If I was of a conspiracy theory fram of mind, I would say that the goal is to encourage people to move to any metro centers and for some entities to buy up all the land assets/resources of the then depopulated countryside (which would then have no people on them save for a few, who would have no rights especially to property but would be allowed to work in exchange for buying things at the company store as long as they behaved themselves — Amazon online perchance?). And many conservatives, worried about bailing out something that they are already bailing out and have been bailing out, will be easily herded into supporting such a notion because they are worried about paying out (which they have been already) and getting teat-suckers (which they have also already been getting).

      Illinois is just the canary in the coal mine…it’s just ahead of the curve…perhaps.

      Liked by 1 person

  34. Mike diamond says:

    What did the community organizer leave behind?= no money, junkbonds! And a whole lot of talk!

    Like

  35. The AP writer didn’t know it, but about 10 years ago, a number of cities in Calif. went bankrupt. First, a little one, then was it Stockton? Anyway a couple more cities joined in. I haven’t read anything since and anyway, I stopped being interested in Calif. the day I left.

    Liked by 1 person

  36. Eric Strickland says:

    Breaking up Illinois is a gerrymanderer’s wet dream. They could secure Wisconsin, Iowa, and Missouri for the left and possibly even Indiana. We have to be careful with this nonsense. Chicago is as corrupt as it gets and dominates Illinois. We can’t let that infect another State.

    Like

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