- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Illinois Could be first state to file bankruptcy
Posted on 6/16/17 at 7:23 am
Posted on 6/16/17 at 7:23 am
quote:
Ratings agency Moody's Investor Service earlier this month downgraded Illinois' general obligation bonds to its lowest investment grade rating, citing the state's growing pile of unpaid bills and its mounting pension deficit. Illinois, by the way, has the lowest credit rating of any state. Lower ratings mean higher borrowing costs, since lenders view such borrowers as riskier bets. "Legislative gridlock has sidetracked efforts not only to address pension needs but also to achieve fiscal balance, allowing a backlog of bills to approach $15 billion, or about 40 percent of the state's operating budget," the agency noted. As noted by the Fiscal Times, Illinois is the only state that's been operating without a balanced and complete budget for almost two years.
LINK
17
Posted on 6/16/17 at 7:24 am to Strannix
Another shining example of Democratic dominance.
Posted on 6/16/17 at 7:31 am to Strannix
(no message)
This post was edited on 6/29/17 at 1:55 pm
Posted on 6/16/17 at 7:37 am to Strannix
It's the democrat way. It all pays off for them if the federal government (you and me) comes in and bails them out. I feel for the regular Americans there, who work, pay their taxes, and do their best to limit government tyranny and excess, but they have to know they are living under the Democrat model. They should have known a long time ago to gtfo.
It's only a matter of time before CA, OR, HI, NM and a few others follow suit. The only way they learn something is to fail, and have to deal with the consequences.
It's only a matter of time before CA, OR, HI, NM and a few others follow suit. The only way they learn something is to fail, and have to deal with the consequences.
Posted on 6/16/17 at 7:47 am to Strannix
All because of Chicago. I feel sorry for the good folks of rural Illinois who get outvoted by the parasites in the Windy City.
Posted on 6/16/17 at 7:49 am to Strannix
Corruption, crime, and entitlements...what could go wrong?
Posted on 6/16/17 at 7:50 am to Strannix
quote:
pension
Pension crises are going to affect a lot more states than Illinois.
Posted on 6/16/17 at 8:07 am to Strannix
Are they bankrupt of assassins, too, or do they still have plenty of those?
Posted on 6/16/17 at 8:11 am to Strannix
Lulz.. At what point is it realized socialism does not work, never has and never will.
Posted on 6/16/17 at 8:18 am to Strannix
Illinois collects $1200 per capita in just state income tax. They expect to bring in $35B in revenue this year. Just $4B short of their budget.
That's with $4B in taxes on liquor, cigarettes and insurance.
And that doesn't even figure in what Illinois residents pay in property tax. The average homeowner pays almost $4000/yr in property tax.
That's with $4B in taxes on liquor, cigarettes and insurance.
And that doesn't even figure in what Illinois residents pay in property tax. The average homeowner pays almost $4000/yr in property tax.
Posted on 6/16/17 at 8:46 am to Strannix
Pressure should be applied from around the country and from his many fans here on PT to get Illinois greatest son(BHO) to volunteer to take oversight and write a plan to save his State. BHO can show the world how you can work your magic and return the State to solvency. 
Posted on 6/16/17 at 9:05 am to Strannix
quote:
Illinois Could be first state to file bankruptcy
Thanks, Obama!!
Posted on 6/16/17 at 9:09 am to Strannix
The home state of Barack Obama, would be another fitting loss for him.
Posted on 6/16/17 at 9:32 am to Strannix
Illinois will 100% file bankruptcy. That state is bleeding money and people. Total mess.
Posted on 6/16/17 at 12:08 pm to Strannix
A lot of people down here don't realize that Illinois is predominantly a rural state. My golfing buddy was raised on a farm in Illinois. When I told him about their financial problems he said "The fix is easy. Sell Chicago to Wisconsin. The rest of the state will do fine."
Posted on 6/16/17 at 12:29 pm to Strannix
This just made me feel better about Louisiana.
I didn't know that was possible.
Thanks Illinois!
I didn't know that was possible.
Thanks Illinois!
Posted on 6/16/17 at 10:31 pm to Strannix
quote:Canceled the Lotto today. Can't pay winners.
Illinois Could be first state to file bankruptcy
Posted on 6/17/17 at 11:40 pm to Strannix
Yeah and the GOP model of trickle down worked great in Kansas, Louisiana and Mississippi. Lol. They are all less then 5 years from same fate
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News