It's Getting Bad
Illinois is ranked No. 2 in a report from the Center on Budget and Policy Priorities for its projected budget gap for fiscal 2011, just behind California, according to a Fortune magazine report.
Illinois' projected deficit of $12.8 billion falls just behind California's forecast of a $14.4 billion budget shortfall, and ahead of New Jersey's $8 billion forecast, according to the report published on CNNMoney.com.
Besides California, Illinois and Arizona, 15 other states face significant budget shortfalls in fiscal 2010, according to the data. Nine states predict that they won't realize revenue similar to the healthier years of 2007 and 2008 until 2014, the report said.
Or as we call them, the Sources of All Evil.
Labels: city politics, state politics
posted by SCC at 12:01 AM
20 Comments:
no suprise when 15 percent of the population is unemployed--- no workee, no pay taxes--- a death spiral.... it will get much worse before it gets better....
When will the pension board decide on cuts for the retired. It is just a matter of time.
why work when there is welfare?
Doomsday is here. The rainy day has arrived. The sky is falling. The fat lady is singing. It's a wonderful life.
It will get better, remember Quinn sent a state employee(s) to open up an economic office in Africa... Im sure that african money is about to start rolling in !!
This is why it is so important to vote and to encourage everyone you know to vote.
I sent e-mails to everyone I know reminding them that early voting has started and to get to the polls.
Michael Madigan is hoping the turnout is low, so his cronies can get elected.
It is time to throw the rascals out!
And they make shitcago a 'santuary city" for all the illegals,nothing like the taxpayers getting fucked again! Rush Limbaugh was right when he stated not to give anymore money for that shithole haiti,barry already gave 100+ million of our cash,and all the food,water,medicine!
Our Republican and Democratic parties sold us out we need a peoples party to sort this sh%t out..Can u say third party .......dump the incumbents...How much more money can they squander.......That mayor from the second Robocop film is our county board president and the mayor and govenor are the best shady deal makers in history.......Send in the clowns......
Hi, we're the democRAT party of Illinois....We've bankrupted Illinois, Cook County, and Chicago.
We hope we can count on your continued support in the upcoming elections.
Thanks sucker... ooops, we mean thanks fellow citizens.
That's because we have a bunch of LIBERAL DEMOCRATS running our state and city governments. Lets start getting rid of them. If you can't find a decent conservative republican at least try and vote a CONSERVATIVE party from somewhere!!
15% of the working population is unemployed..what about "that segment" of population that refuses to work, and/or has never worked a day in their lives? They are a net drain on our society.
just vote for anyone who is not an incumbent or member of the demo-rat-tick party on february 2. tell family and friends too.
and all your politicians are basically telling any illegal that they can come here to our country and get a free ride without having ever paid a single penny into the pot. WOW are we fucked.
This is happening almost everywhere. Almost every city, county and state in America is borrowing money that can't be paid back unless the government finds a way to inflate the debt away.
Don't believe me? Take a look at New Jersey, Massachusetts, New York, California, Arizona, Nevada, Michigan, Indiana, Illinois, Las Vegas, Atlanta and on and on and on. I read this stuff half my waking hours.
No offense guys, but there are three basic problems, different in different places. #1 corruption, #2 paying able-bodied adults welfare, unemployment, food, anything without requiring something in return, and #3 exorbitant public sector compensation.
And yes, this is directed to the thousands of sworn members who don't do ANYTHING remotely justifying their compensation. Their are literally thousands of sworn members who don't hit the streets, let alone the mean streets. Taxi drivers and 7-11 clerks are in more danger than the house mouses at 35th street. But their pay is somehow supposedly justified by the danger they face?
The clerical and do-nothing work performed by thousands of officers could be performed by college students for $8.00 per hour.
And that's just looking inward. The same criticisms could be leveled at public workers everywhere.
I'm the comment at 9:24, and here to also point out that its not just local or state workers. The information in this link was bandied about the internet 4 or 5 months ago: http://www.cato-at-liberty.org/2009/08/24/federal-pay-continues-rapid-ascent/
Basically, average Federal civilian compensation is about 80K as of 2008 or so. Compares to private sector compensation averaging 50K or so.
How long can the growth in government at every level continue? It can't last forever, and what's happening now is the piper's come a calling looking for its due.
They ain't really discussing it soooo much, but 90% of the Federal deficit last year was financed by Federal Reserve printing dollars to buy U.S. government debt. Anybody think they can stop? Ever???
Its all a giant ponzi scheme.
The pension board cannot decide on cuts for the retired. The retired are protected by the state constitution. But, they can get a reduction in pension benefits for those not yet hired.
States cannot declare bankruptcy under U.S. law. Cities, counties and all other jurisdictions within a state can.
The pensions are an obligation of the city, not the state, right?
Keep an eye on Vallejo, California, where a bankrupt town is being allowed by a federal Bankruptcy magistrate to abrogage contracts with municipial workers. As far as anyone can tell, this includes pensions.
The pension board (read: city) might not be able to reduce under state law, but a federal bankruptcy court can pretty much do what it wants.
The states and cities are the biggest issue this year. 54 billion short on operating budgets (thus not even including pension obligations), and growing larger every day.
Obama intentionally letting the economy tank and unemployment soar, so he can establish and control his national Communist Eutopia of the Masses..
Can't do too much when your leader announces that your city is a "sanctuary" for anyone who is illegal. Daley's laws trumps federal laws, just ask him.
You voted for him...no more capitalism, no more working hard for your money and making it work for you. You work hard for your money and then you give it away (taxes) to those who don't work. You give your money to those who are here illigally. It's "re-distibution" of YOUR assets.
We're doomed.
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