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Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: just like japan debt structuring ()
Date: July 11, 2017 10:36AM

Illinois-state-flag-Flickr-640x502.jpg

Moody’s credit rating service warned on Wednesday that new tax hikes by Illinois’ Democrat-controlled legislature, which over-rode a Republican governor’s veto, may still leave the state insolvent and subject to its debt being the first in the nation to be downgraded to JUNK.

Illinois, before this bill was passed, was ALREADY the highest taxed State and also worst performer State in the USA.

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Democrats in Ill. are citing that rich white people's pensions are "the problem".

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: Source? ()
Date: July 11, 2017 11:36AM

Source?

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: the best source ()
Date: July 11, 2017 02:36PM

The best source on this is Richard Lehman, who follows the municipal bond market for Forbes. His best stuff you have to pay for, but he has excerpts which reflect the initial poster's statement.

Illinois is doomed. The politicians cannot fix this problem, so a fix will come about only when the financial disaster is so large that drastic changes in spending and exposure to obligations occur. Think Greece, and Puerto Rico, where misery abounds.

The political angle is not that interesting at this point. Illinois simply has a huge spending problem. Those who want to raise taxes (and raise more taxes) are in a tough spot. Illinois did just this between 2011-2014, presumably to draw down the deficit, but it only increased. And Illinois ranks last in personal income growth since 2008. Forget the theory, in this environment, there is a limit on how much Illinois producers - and there are fewer of these than ever before - can pay.

The statistics are appalling. High property taxes, a $150 Billion (maybe more) pension hole - huge pension holes in Chicago - insane, and I mean as in no one else does it insane - practices of borrowing under general obligation debt to pay operating expenses - the City of Chicago Public Schools incurring 70,000 dollars a day extra because their credit is so poor it requires them to pay outrageous rates - that is a teacher per day, gone up in smoke to excess interest, and on on and on.

Illinois will figure in the 2018 elections. It will be the poster child for the failure of the blue state. Yes, there were people from both parties involved in this mess (and I know far more about it than I relate here), but the 20 plus years of spending 116 cents year after year against 100 cents taken in (10 percent higher than any other state) is a problem largely cause by the Democratic Machine.

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: Inquisitive One ()
Date: July 11, 2017 02:56PM

Bankruptcy like status with a lot of pain is the only alternative. Congress cannot bail them out because California will get in line for a similar deal five minutes after a bailout is approved with tens of billions in outstanding debt.

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: Author Michael Hastings ()
Date: July 11, 2017 03:00PM

Source? Wrote:
-------------------------------------------------------
> Source?

Breitbart, all day Breitbart. They have a hot line-up the whole month.

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: e7kb7 ()
Date: July 12, 2017 05:54PM

.

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: ejclt ()
Date: July 12, 2017 05:56PM

^^ Breitbart News

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: xyem9 ()
Date: July 13, 2017 08:33PM

R

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: Blam ()
Date: July 13, 2017 08:39PM

Fairfax County?

--------------------------------------
DAMN!

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: Who gives a shit? ()
Date: July 13, 2017 10:41PM

Who gives a shit?

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: mkmye ()
Date: July 14, 2017 02:45PM

.

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: nhwej ()
Date: July 14, 2017 02:46PM

.

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: fhwkm ()
Date: July 16, 2017 01:57PM

fcc 444 fcc

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: 6uege ()
Date: July 16, 2017 01:58PM

fcc 444 fcc

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: y96yC ()
Date: July 18, 2017 12:07AM

Many of the rich people in Illinois have taken their pensions and fled the state.

https://www.thenewamerican.com/economy/sectors/item/21405-trickle-of-companies-leaving-illinois-turning-into-a-flood

http://www.chicagotribune.com/news/local/breaking/ct-illinois-population-decline-met-20161220-story.html

http://www.chicagotribune.com/news/opinion/editorials/ct-illinois-census-brookings-edit-0107-20150106-story.html

http://chicagoist.com/2016/06/08/people_are_leaving_chicago_in_drove.php

http://chicagotonight.wttw.com/2016/03/29/why-second-city-first-population-loss

https://www.illinoispolicy.org/reports/still-leaving-illinois-an-exodus-of-people-and-money/

We ought to give Illinois to Puerto Rico as an extension of their island, and invite those who think they can make a difference by starting businesses for themselves to go there instead of staying on welfare. If they fail, they just get deported back to Puerto Rico and someone else with a dream gets a chance..

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: BTDGE ()
Date: July 18, 2017 10:24PM


ILLINOIS DEMOCRATS GAVE THE SAME BULLSHIT REPORTS VIRGINIA AND FAIRFAX COUNTY GIVE "EVERYTHING IS DOING BETTER" FOR YEARS

THE ONLY REASON YOU HAVE A CLUE THEY ARE LYING IS THEY LOST A COURT CASE WHEN SOMEONE TRIED TO CASH A BOND AND THEY REALLY, REALLY COULD NOT PAY IT

i don't even need to blink to know what pathological liars are up to


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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: 3gpx9 ()
Date: July 19, 2017 10:37AM

little red riding hood

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: uldym ()
Date: July 19, 2017 10:38AM

little red riding hood

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: nlyu9 ()
Date: August 03, 2017 08:55PM

v

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: kxxhv ()
Date: August 22, 2017 06:15PM

b

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: 3j9ny ()
Date: January 12, 2018 07:18PM

3j9ny

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: ypxpx ()
Date: February 26, 2018 08:12PM

ypxpx

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: htdkd ()
Date: February 27, 2018 03:56PM

htdkd

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: vc3pu ()
Date: May 11, 2018 08:51AM

brother can you lend a dime

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: lh9kh ()
Date: July 29, 2018 04:37PM

lh9kh

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: Resurrecting Dead Threads, boi ()
Date: July 29, 2018 04:47PM

Everyone clap for the one guy who keeps resurrecting the one thread which convey his own political views in order to satisfy his personal entertainment.
Attachments:
Necroposter.jpg

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: Gravedigger ()
Date: July 29, 2018 04:52PM

Never went anywhere dead-man thread.

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: ex63g ()
Date: August 09, 2018 10:27PM

ex63g

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: evfcc ()
Date: January 31, 2019 11:36PM

evfcc

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Re: Illinois Democrats vow to spend more on illegals while financial institutes state their credit rating is NOW JUNK CREDIT RATING
Posted by: 09djfj ()
Date: September 28, 2019 02:04PM

.

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