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Illinois careens into financial meltdown – and not even the lottery is safe

Illinois has been circling the drain for some time now. Default seems imminent and irreversible now. One of the big problems is unfunded pensions. Really sad - Illinois basically equals Chicago - Chicago muscle and corruption has controlled the state for decades. A once great city - going the way of Detroit I suppose. Read more on the cited source

Illinois careens into financial meltdown – and not even the lottery is safe | Fox NewsIllinois is grappling with a full-fledged financial crisis and not even the lottery is safe – with Republican Gov. Bruce Rauner warning the state is entering banana republic territory.http://www.foxnews.com/politics/2017/06/20/illinois-careens-into-financial-meltdown-and-not-even-lottery-is-safe.htmlImage for post Illinois careens into financial meltdown – and not even the lottery is safe
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@2595136

The opening sentence I found laughable -
"A Chicago Fed study finds that Illinois tried, and failed, to be a low-tax, low-spending state, and we’re now paying the bill."

Low Tax? - Ahhh, no.
Low Spending? - You must be joking.

From the same article - "since just before 1990, Illinois has been spending more than it’s taken in, as spending has been more than 100 percent of revenues, while the average state has not consistently spent more than it’s taken in during that same period of time."

Public union pensions push everything way over the edge.

Anonymous