Start with banning Obama from the state. It will yield immediate benefits.
As a failed state, it should become a US territory with no representation in Congress and none of the rights or privileges of States.
Put the entire state government in ‘receivership’.
The one they have obviously cannot govern responsibly because of corruption at every level, from dog catcher to governor.
I think they are tied with Alabama as having had the most former governors in prison.................
What to do??
Commandeer the assets of those government officials who pissed away the taxpayers money and apply it to the state’s debt. They’re the ones who were engaged in malfeasance and improper guardians of the people’s money. Make imprudence a penalty with ramifications. Enough of this haphazardly pissing away other people’s money.
Eventually the Federal government will be forced to manage their bankruptcy. However if a Republican Congress is smart they will assign a Federal czar who will have the real power of taxing, spending and essential governance in those states.
First no federal bailouts. The voters kept electing these clowns so they should accept the consequences. Let Illinois go bankrupt, but on the condition of new elections with current politicians being barred from running.
They should do what Marxists always do: raise taxes. Lol
1. California is home to some of the most influential technology and biotechnology companies in the world, the strong presence of the entertainment industry, plus two major shipping ports.
2. New York City is the financial and media capital of the USA.
Illinois collapsed because they have horrible financial mismanagement, primarily with the City of Chicago (take out Chicago and the state is in vastly better financial shape). The solution may involve a Chapter 9 filing for Cook County and a complete revamp of pensions for anyone working for Cook County government and the state of Illinois in the Chicago area.
obviously the senior bondholders take control of the assets until they get paid in full
Reduce it to a territory; expunge the current government/leadership; establish martial law to clean up the crime; appoint a federal commission, like a bankruptcy court, to supervise getting the state back on track.
After a complete audit, hold a state election to replace the government with new people...new, RESPOMSIBLE people.
During this time, no representation in US Congress.
It has to rebuild its credit, and credibility, meet its obligations.
Make Cook County into a U.S. Territory, with no representation in the federal legislature.
Split the rest of the state into pieces, each of which will be annexed by a neighboring state.
What happened the last time was Obama and the Democrats passed the $800 billion porkulus spending bill and bailed out poorly run states. Ain’t gonna happen this time. Illinois has to get its own state in order. Taxpaying voters of Illinois either have to throw the bums out, or vote with their feet. Taxpayers from other states should not have to bail out Illinois. That would essentially be taxation without representation.
Illinois lottery players may lose Powerball and Mega Millions at the end of June
https://www.lotterypost.com/news/313228
Do like the Obama administration did with GM: split it into two Illinois, a good one and a bad one. Then sweep the bad one under the rug.
They can’t print money or crap on the unions....
Use them of an example of what will happen to the US if we continue down the path we are on.
Entitlements are not free.
Government spending does matter.
Government promises for retirement are empty unless managed honestly.
Fiscal responsibility is a job of our representatives.
Force them to make the necessary cuts so everyone can see what happens.
Relegate them to the status as Puerto Rico. Reverse secession
Convert them to the status of Territories with no representation in the Congress. Assign a commission to oversee the finances of the Territory with authority to nullify some or all debt.Make the status to last for a minimum of 20 years. Make the terms of readmission as a state to be permanent balanced budgets and no state or local government borrowing possible. Ignore the courts which will oppose it all.
Let em go bankrupt. Then the pensions et al will have to be renegotiated