Quinn Says "More More More!!!"
Taxpayers might have expected that state government was back on solid financial footing after lawmakers approved a major income tax increase that's already being docked from their paychecks.
But Gov. Pat Quinn says Illinois' books were so neglected for so long that the money isn't coming in fast enough to repay billions owed to schools, doctors, mental health centers and other providers.
So during his budget speech Wednesday, Quinn is expected to push a plan to borrow $8.75 billion to help alleviate the pressure.
But don't worry taxpayers!
- The idea is to use the cash infusion to whittle down the bill backlog from a mountain to a molehill and rush payments to the 36,000 vendors owed an estimated $7 billion. The loan would be paid back over 14 years using money generated by a portion of the income tax hike.
Of course, he's trusting that no one will remember any of this in 4 years. And in 14 years, that's like a political eternity.
posted by SCC at 12:01 AM
32 Comments:
More borrowing? You gotta be kidding!
Laurence Msall, President of the Chicago Civic Federation, has stated Illinois needs an income tax increase ALONG WITH a reduction of state SPENDING!
Quinn has only increased the income tax without reducing state spending, ie programs to those who choose not to work!
So instead of even proposing a 5% reduction in link, section 8, free programs for illegals and those who choose not to work, Quinn wants to take out a 8.75 BILLION dollar loan that will be paid back over 14 years. Well, Quinn's tax increase (only on the working class) was allegedly temporary, for 4 years. Well, obviously our income tax increase will last permanently, to pay off his 14-year loan, when he could balance the budget by SPENDING LESS, ie cut spending of the refuse-to-work recipients.
QUINN REFUSES TO CUT SPENDING, INSTEAD CHOOSING TO TAKE MORE FROM THE WORKING CLASS AND NO ONE ELSE.
I voted against him. Everyone who voted for him I hope he taxes you extra good. He said he would raise taxes. They won't cut all these give away programs. Keep voting democrat.
wow, and i bet in a few years they're going to drop the income tax hike.
What's the extra 1.75 Billion for ????
And I'll bet that Scott Cohen is
somewhere laughing his a** off.
Taxes won't go up people! the state and and the city are going to pay for the freebies with your pension and reduce your pay. now go back to work comrades.
quinn isnt running again, he is raising all these taxes so lisa madigan wont have to
SCC;
A lot of suburban police and fire read your blog.
Please alert them to SB1679 by State Sen. Jeffrey M. Schoenberg
Synopsis As Introduced
Amends the Downstate Police, Downstate Firefighters, and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Requires the board of each downstate police and downstate firefighter fund to transfer to the board of trustees of the Illinois Municipal Retirement Fund, for the management and administration of all investments owned by the funds. Terminates, upon completion of the transfer, the authority of the boards of each downstate police and downstate firefighter fund to make investments. Charges the board of trustees of the Illinois Municipal Retirement Fund with controlling and managing the investment expenditures and income, including interest dividends, capital gains, and other distributions on the investments of the downstate police and downstate firefighter funds. Provides for the election of a police officer trustee and a firefighter trustee to the board of trustees of the Illinois Municipal Retirement Fund.
It must be fun to be M Madigan: pulling the puppet strings in the background while not taking any of the public heat for the crazy decisions.
Will the people on the South Side PLEASEstop voting for him?
The tollways were supposed to be free by the 70s after the construction bonds were paid off also.
I wrote a letter to the Editors of the Times and Trib as well as posting on their boards that public aid recipients should face a 2% cut in benefits if the rest of have have to pony up another 2%.
I was roundly criticized on the boards and the papers never printed the letter.
It seems the only people that take criticism these days are "greedy" public employees.
Mr Msall is on record saying that retro pay should never be paid also.
It's all our pensions. Thats why the state and City are broke. Just listen to rahm.
Send us more Democrats to vote for we love them.
Fuck Quinn!
Can I do that with my home budget too? It sounds great. Just spend more than you make and borrow to pay it off.
But how would I pay off what I borrowed? I know! I'll declare bankruptcy and screw everyone!
Keep voting for the Democrats, you idiots.
I voted against him. Everyone who voted for him I hope he taxes you extra good. He said he would raise taxes. They won't cut all these give away programs. Keep voting democrat.
Thank you for your vote. I voted against him too. Unfortunately the non-producers know where their handouts come from and continue to turn out in droves for Democrats.
Until Atlas Shrugs and the handouts are cut back.
Dems will continue to enable those who will not work.
"wow, and i bet in a few years they're going to drop the income tax hike."
HaHahahahahahahaha!!!!!!
I needed that smile.
Illinois will default. Get out while you still can. It's gonna get nasty.
Tax the working class and keep upping the entitlement programs. The true democratic way
If he gets the extra 9 billion, watch for him to start spending like a drunken sailor.
Then next year he will borrow 18 billion!
Is it possible for the state, the county or the city to document the revenue they generate from all its varied sources (the true amount) and then show exactly where it's going? With the use of computers Im sure it could be done. However,I would wager that if this was ever disclosed to the taxpayers in this state there would be a revolt that would scare these elected officials shitless.
How about adjusting the public aid system like Wisconsin's? There you get aid for five years and that's it.
Will someone please ask laurence msall why he recieves a pension but feels we don't deserve one.
Government approved vendors in most cases do not produce nor have any knowledge of what goes into producing the services or goods requisitioned by either State or City. In most cases the product or service may be purchased at retail by the average citizen for less than what the City/State pays vendors for being the middle men. Something needs to be done about this. The Police and Fire Department are not breaking the bank. We give our all, blood sweat and tears. We too, want the best price for the services provided with our tax dollars. Start with the vendors. Pay what you owe the pension funds of our true heros. Investigate the connection between vendors and government.
Meanwhile Obama's latest budget proposal places Chicago's economy under attack.
Stop buying C-17's from Boeing.
Cut federal grants to large airports
Cut LIHEAP energy heating aid 50%
and more
So instead of even proposing a 5% reduction in link, section 8, free programs for illegals and those who choose not to work, Quinn wants to take out a 8.75 BILLION
Corporate welfare gets that and then some.
I had a call today from a guy who complained that an acquaintance of his took money off his LINK card. I told him that wasn't a crime since it was my money, not his. I left as he gave me one of those WTF looks. Fuck those mentally deficient alcoholics and drug addicts. They get nothing from me.
What's amazing is that taxpayers who think they are on the hook for our pensions don't have much anger about the fact that we are charged way more than we actually need to be just so the city can put 900 MILLION in tif funds for businesses that will also get reduced taxes after they are helped. I pay a ridiculous amount of taxes on my little house just so Target or some other bs can get breaks? They create jobs yes but damn, we can just pay these people with almost a billion dollars.
Taxpayers ought to ask that this money not be added onto our property tax bills. Let business sacrifice too. We've been paying for them in good times and now we need our money back. Stop tifs folks, don't blame fire dept. Or police dept. Or any public service. They didn't cause the problem. Unchecked spending and free money to friends and connected partners did. It's time chicagoans got smart and took control over this city. It is OUR city not the fiefdom of elected officials. Wake up Chicago!!
Corporate welfare gets that and then some.
2/14/2011 11:44:00 PM
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Assuming your misguided statement were true...which it is not...corporations provide jobs and pay taxes. What do your link-sucking ghetto zombies provide, besides murder, mayhem, and some cheap entertainment on occasion?
yeah and peoples gas wants an increse too. My raise is soooo long gone
Corporate welfare gets that and then some.
2/14/2011 11:44:00 PM
"Corporate Welfare" would not exist or be necessary if it weren't for overreaching and strangling government regulations and restrictions on free trade. The government at every level has so taxed tied the hands of business that now they have to pay companies to do business here. Companies are in business to make money, not to provide jobs or tax revenue.
Companies are in business to make money, not to provide jobs or tax revenue.
2/16/2011 11:58:00 AM
so why don't they just print it, then?
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