Federal bailout.
Stupid headline. Stupid premise. Of COURSE they know how to pay for it. Or rather they know who besides them are going to pay for it.
Exactly....I'm sure that was a mitigating factor when they approved the contract...
They will hold the american taxpayer hostage...by eventually telling Congress Illinois will have to declare bankruptcy...if they don't pony up...
Personally, we need to see states fail to get their spending in line...
That would be one way and it's possible, but I'm betting on regionalization.Starting with the schools, the wealthy and well to do burbs will be absorbed into the Chicago govt district. By the end of this contract all Cook County school districts will be part of the Chicago school district for tax and spending purposes. The real progressive desire would be to bus the poor into the burbs and the white kids back to Chi. That will cause revolution, but limiting the control to money raised and spent will accomplish the redistribution the progs want.
The Illinois budgets are expecting a federal guarantee of state borrowing under a 2nd Obama term.
Gov Quinn let this slip earlier in the week. I suspect Calif is similar.