Too Risky to Operate in Illinois
- The popular Powerball lottery and Mega Millions games will drop Illinois at the end of June without a budget agreement, Illinois Lottery officials said Thursday.
Concern over the state’s fiscal condition prompted the Multi-State Lottery Association to drop Powerball in Illinois, according to internal Illinois Lottery communications obtained by the Chicago Sun-Times.
Mega Millions also plans to drop the state unless a budget agreement comes together, state officials confirmed. Without a budget in place, the state isn’t authorized to make payments to Mega Millions or the association.
The media has run occasional stories about lottery winners not being paid promptly due to Illinois being broke and budget-less. Now with Mega and Powerball leaving, how big an additional hole is that blowing in the state budget? At least we can still drive over the border and get lottery tickets with our gas, soda, and fireworks.
Labels: money questions, state politics
posted by SCC at 12:01 AM
36 Comments:
When even the "sin" companies want to leave your state due to fiscal reasons you're in bad shape.
With out a budget in place I should be allow to NOT pay state garbage... why the fuck is state income tax being taken?
Sad! It's the only way that Amish parasites contribute even if the odds of winning could be less than one chance in a quintillion
(1.000,000,000,000,000,000,000).
If you're not a damn fool and you insist on playing Powerball, buy ONE ticket for $2..
The state will not miss them a bit.
As with the Deep State in D.C. undermining Trump and his administration, the demorats in the Illinois Assembly have run control over the politics and finances of the State to the point of bankrupting it. The demorat pols and the media in this State can blame Rauner all they want, but the truth be told if there was a demorat in the Mansion the same policies that have driven the State to where it is now would still be in place driving eventually over the cliff of bankruptcy.
Gambling ventures leaving. Bills to contractors not being paid. Pensions in a death spiral. Bond rating in the tank. Population and businesses leaving and with them tax revenue. All evidence of what it means to be a progressive utopia.
Wisconsin was the same way. Then it's Assembly went republican, as did it's governor. The result is the State is in the black within 4 years of Walker in office. Other republican run States are mirroring the same results. Unfortunately other demorat States are mirroring Illinois and California.
And Chicago? Run with smoke and mirrors. Pensions 30% under funded. Population and businesses leaving and taking tax revenue with them. It's bond rating in the tank. Property taxes artificially kept low for decades and now being jump started to the point of killing home owners. All sorts of municipal fees going up an up. Chicago is mirroring the State. Demorats controlling the City since the late 1920's. Even if a republican or libertarian was elected Mayor the Council would still weld enough power to stop reforms and still drive the City over the cliff. Let's not kid ourselves, it is only a matter of time and that time is drawing near.
We are so fucked.
Ha Ha Ha ... would be funny as shit if it wasn't true
It's all Rauner's fault. Saw a campaign commercial for Lib JB Pritzket yesterday. He says its time to get a democrat in there to fix this mess. I can't believe one GOP governor can do this much damage in just 2 years. Illinois was such a paradise back in 2014. Thanks to billionaire JB for looking out for us common folks.
That means Illinois residents will go to to Indiana, Wisconsin and other states to play and if they are lucky enough to win, will Illinois collect the tax on it?!
Get out if you can. By out I mean out of Illinois moving to southern Illinois will not help when the bills come due. Used to be a nice place to live, not anymore and it's to far gone to save. No one who has voted for the dims should be allowed to leave they will just take there F up mindset with them. Make them stay and reap what they have sown.
Our state will never follow Wisconsin's success plan. We have too many useless people to support.
Stupid question. Can municipalities participate in Lottery independent of a State? This would be a great independent revenue stream for pensions seeing that the Casino is a unicorn that will never happen. Chicago has a huge population and 2 airport advantage. Would love to see the existing numbers of revenue generated on lottery in Illinois specific to Chicago.
A certain state representative who was being called back to Springfield this week told me that a budget will likely get passed soon with the state income tax going up to 5%! My bags are packed and setting by the front door, the car is gassed and the wife has said her goodbyes and good luck to the neighbors. Greener pastures here we come.
This is OUR fault cause WE the voters have allowed the politician to bend us over with no Vaseline.
What other idiots would reelect a crook like Daley for 20 years? Or elect the same worthless alderscum time after time.
We allowed them to fuk us over and over and over.
Now this once great land of Lincoln is in ruin.
Look in the mirror and you will clearly see the problem.
PS...we are still waiting on the release of the IG cheating scandal report!
http://www.cbsnews.com/news/could-illinois-be-the-first-state-to-file-for-bankruptcy/ Read this article and tell me everything will be ok. Don't fool yourselves The demorats want this to happen. Guess whom will suffer the most, PLEASE! Don't even think it will be anyone but YOU! But Don't feel alone I believe a couple other fine run leftist communist states aren't far behind. You know the killary won states.
Trump is a great example of what Republicans can accomplish. The stock market keeps breaking records. Unemployment is at a ten year low. Basically everyone who wants to work has a job. The rest of them will never really work. Gasoline has been steady at around $2.50 a gallon, not terrible. Currently they are working on tax reforms hopefully to bring back corporate earnings that are overseas which are currently taxed at approximately 35% because 35% is working so well. Hopefully the middle class will receive some breaks as well we'll see. Now let's get to work on law enforcement laws which protect officers from doing their jobs. You know like when they shoot somebody armed with a knife that has been on a rampage threatening people attacking vehicles that are occupied all while high on drugs and refusing to listen to commands by on duty uniformed officers, stuff like that. Oh yeah almost forgot Trump is also calling on countries to pay their fair share towards things like NATO and other entities where the US has historically paid the brunt of the bill.
And with bankruptcy against the law in Illinois for government entities, that means only one way out....much higher taxes on everything. When you have more takers than payers, you lose. Expect the state income and corporate taxes to double again in the near future. Real Estate taxes will go through the roof, again. Gas taxes will double. Run Away! Run away!
With the whole state being democratically controlled, and with their shining example of a sanctuary city, Chicago, why is everything going all to hell?
Maybe the democrats will learn someday that everything has a price. Decent people don't want to live among criminals and illegal aliens and their foreign screwed up cultures. And they sure as hell don't want their tax money going to support these same criminals and illegals.
J.J.
Not a big deal. These lottery administration companies just recently were exposed for not paying off the grand prizes. They would say there were say 5 top prizes and them stop the game after only two were paid
"At least we can still drive over the border and get lottery tickets with our gas, soda, and fireworks."
And tobacco, and ammunition. And everything else that Cook County tries use to tax their way to prosperity (failing every time it's tried).
Even Major business publications spreading a pending Illinois bankruptcy
with law change ,,will Illinois bonds hit Junk Status on July 1 ?.
The end of Madigan Power unfolding... he stated no budget until Rauner leaves
Can I give you all some advice from the private sector?
If they don't pay your pension contributions, that is a definite sign that the company is going under. It is time to look for a new job, before they close the doors and lock you out. Usually owing you one or two paychecks.
Been there. It sucks.
With Illinois teetering on the brink of bankruptcy, I'd be running, not walking, away from anything to do with IL:
http://www.cbsnews.com/news/could-illinois-be-the-first-state-to-file-for-bankruptcy/
Some interesting snippets:
So how did the state's pensions balloon into such a crisis? First, the pension problem has been a long time in the making. The state has more than 660 government pension funds, which are sometimes called defined benefit plans because they promise workers will receive a specific pension when they retire.
But critics say some of those pensions carried overly optimistic assumptions, especially given periods of market turmoil like the global financial crisis, which ate into investment returns. The state's general assembly wasn't required to fully fund pensions, which meant tax money was spent on other priorities such as schools or infrastructure.
The result? Growing unfunded liabilities, or money promised to workers in their pensions when they retire that the state doesn't have. Other contributing factors include inadequate employer contributions and benefit increases, according to the Civic Federation.
Adding to the state's financial pain is a shrinking tax base. For the last three consecutive years, Illinois has lost residents. Its population is now at its lowest in a decade. Tepid wage growth on top of fewer residents puts a strain on the state's ability to grow its tax revenue.
I rarely play the IL Lottery.
Do they still tell big money winners they have to wait months on end to collect?
Never understood and it was never explained how can a State Agency can stage a game of chance, collect millions of dollars from the public and then Not Pay Out for months.
Over 40 years in operation and the corrupt system is a complete bust.
The Lottery was promoted with the intention and perhaps even coined the phrase "For the Kids", it was to be a bountiful money fountain capable of producing heaps of wealth for a struggling education system.
Both The Lotto and CPS are flops and will always be perennial financial boondoggles.
The only winners were the corrupt agency executive staff and the no-bid privately owned company to manage the pyramid scheme. They always got paid first.
Aah, it's Illinois my friends, there's no criminal intention, no need to investigate, there was no manipulation or malfeasance.
The FOP Endorsed Democrat Illinois Attorney General has no intention of examining the pyramid scheme.
Bye Bye Pensions constitutional guarantee won't matter if there is no money.
Why do the Democrats have no shortage of announced candidates for the governorship of Illinois? If Madigan and Cullerton are able to keep stalling Rauner from pulling us back from the brink of bankruptcy, there will be nothing left to steal. Even if a Democrat were to be elected, it would be like becoming chairman of the board on the morning of the going out of business sale. Who would want to be in that position?
You'll see. All the poor bastards that can't get paid by the state have no sway with the politicians but you can bet there will be an uproar by certain folks who can't get their Mega and Powerball tickets. They will move the needle in Springfield.
Bernie Madoff is in prison for defrauding his clients and stealing their money. Madigan, Daley Rahm and the rest of the Illinois politicians have robbed the pension funds and the state and city treasury. They and their friends continue to personally profit from their malfeasance. Trump needs to send in a team from the US Attorney General and apply the RICO ACT to the evil cabal. ♠️
I buy cigs gas pop in Indiana been doing it for years I don't spend money in chicago
Get out if you can. By out I mean out of Illinois moving to southern Illinois will not help when the bills come due. Used to be a nice place to live, not anymore and it's to far gone to save. No one who has voted for the dims should be allowed to leave they will just take there F up mindset with them. Make them stay and reap what they have sown.
6/16/2017 06:53:00 AM
Oh how I wish that can happen. I feel the same way buddy. But just like in Cali, the democrats are spreading their f-d up mindset into Colorado. They should be made to stay while we all leave. A big FUCK YOU to each and every one of you
Does anyone recall, back in the 70's, when the law was passed allowing Illinois to conduct lottery drawings, and the provision was that public education would get FULL FUNDING? Where did all that go?
Anonymous said...
Not a big deal. These lottery administration companies just recently were exposed for not paying off the grand prizes. They would say there were say 5 top prizes and them stop the game after only two were paid
6/16/2017 10:52:00 AM
Who won the $30,000 a week for 30yrs? Nobody they canceled the game with no payout that was the last straw for me never buying an Illinois scratch off again.
I would be agitated about this if it were not for the fact that if I want to gamble, I can still walk the streets of Chicago and gamble my life will not be taken by an armed offender of some sort.
Internal communications exposed by the Scum Times my ass. More like spoon fed to them along with the spin they should put on it for the sheepole.
"Our state will never follow Wisconsin's success plan. We have too many useless people to support."
Try again...
https://www.usnews.com/news/best-states/wisconsin/articles/2017-03-06/things-to-know-about-wisconsins-state-budget-deficit
Anonymous Anonymous said...
"Our state will never follow Wisconsin's success plan. We have too many useless people to support."
Try again...
https://www.usnews.com/news/best-states/wisconsin/articles/2017-03-06/things-to-know-about-wisconsins-state-budget-deficit
6/16/2017 11:15:00 PM
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So what you're pointing out is that even the "fascist/racist/Koch-financed far right" isn't actually far enough to the right to deal with deficits that the leftist welfare has stuck us with.
Golf Tango Foxtrot Oscar
Now, before the collapse.
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