Posted on 01/01/2019 3:38:08 PM PST by george76
Illinois ranked No. 48 in an analysis of the state’s ability to pay all of its bills, including public employers’ pension benefits, according to a new ranking of the states’ fiscal health by Truth in Accounting (TIA).
Illinois was found to be short $216.1 billion to pay its bills
...
The amount of the state’s shortfall in funding to pay off its bills amounts to $50,800 per taxpayer
(Excerpt) Read more at watchdog.org ...
Venezuela Soon!!!
Death by constitution. The Illinois document prevents any reductions in pension benefits. Without such restructuring the state goes broke.
48 Illinois -$216.1 -$50,800 F
49 Connecticut -$69.8 -$53,400 F
50 New Jersey -$195.5 -$61,400 F
I was just interested in seeing which states were worse than IL. #’s 49 and 50 are no surprise.
Does anyone want to wager which one goes under first?
The state of Ill and annoyed. Run by Rats and RINO’s. Sorry for you FReeps who live there.
Move the capitol there. A large influx of capital + the lefties will be concentrated. Just make sure it’s too far to commute from a red state next door.
Democrat Party success story
Democrats will blame Republican governors and Fox News for this.
G. Ryan, Rauner, Rowland, Rell, Whitman and Christie will be blamed.
“Just make sure it’s too far to commute from a red state next door.”
Back in the eighties Honeywell, my employer, was paying people on temporary duty in high tax states out of Florida. California started having their troopers stop cars with Florida plates and rental cars to interrogate the driver. They also started visiting local hotels around the area. Shortly, Honeywell had to deduct California taxes from pay. It was a huge problem because the workers weren’t being paid California rates, they had a hard time proving they’d left California and were constantly being dunned for taxes they no longer should be paying (after they left.) It was a nightmare. The same thing happened when the workers commuted from a tax free state to a taxed state where such a commute was possible. (I don’t recall much more than that. Don’t know how or whether the issues ever improved.)
Where do these states get the money to pay expenses week to week? Do they just stiff contractors for protracted periods? Are there still people and funds who buy their bonds? You would think at some point they will really really run out of cash.
If only they elected MORE Democrats, then all their troubles would be over.
What do these four geographical entities have in common:
Illinois
New York State
Cuba
California
Venezuela
Michigan is in sorry shape.
Is that before or after all the Government Pension Benefits for State retiree's?
Interesting...
The chart with the article lists all 50 states, their revenue deficit and the debt per taxpayer.
The top 10 best are all Republican.
The top ten worst are all Democrat.
Better get out now, the government employee unions WILL send out thugs to get their money from you if they have to.
Palm trees?
IIRC, Michigan is in similar straits. State employee unions are parasites.
“By the numbers: Illinois receives ‘F’ grade on national ranking of states’ fiscal health”
And do you know what? The democrats running the place couldn’t conceivably give a shit.
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