Posted on 04/17/2020 7:01:07 PM PDT by Theoria
The president of the State Senate asked for $40 billion to help the pension system, fund unemployment insurance and aid hospitals and cities.
Illinois needs more than $40 billion in relief from the federal government because of the coronavirus pandemic — including $10 billion to help bail out its beleaguered pension system, according to a letter the Illinois Senate president sent to members of Congress.
The letter, sent this week by State Senator Don Harmon, also seeks a $15 billion grant to “stabilize the state’s budget,” $9.6 billion in direct aid to Illinois’s cities, $6 billion for the state’s unemployment insurance fund, and hardship money for hospitals and nursing homes, among other things.
“I realize I’ve asked for a lot, but this is an unprecedented situation,” Mr. Harmon, a Democrat, wrote in the letter to the state’s congressional delegation, a copy of which was viewed by The New York Times. A spokesman confirmed that Mr. Harmon had written the letter.
The letter was shared with Gov. J.B. Pritzker, also a Democrat, who said this week that the federal government should provide more funding to states. Messages left for State Senator Bill Brady, the minority leader, were not immediately returned on Friday evening. Democrats hold 40 of the State Senate's 59 seats.
The letter said the outbreak had caused economic havoc in the state, which has been under a stay-home order since March 21. Economic activity has frozen up across the country, causing tax collections to evaporate while spending has soared.
(Excerpt) Read more at nytimes.com ...
Yes, it may become necessary to assist a few mismanaged blue states....but there MUST be conditions.
Many MAGA folk live in these places (like me)
These states should file bankruptcy to clean up the books and lower the ridiculous pensions.
Get rid of insane sanctuary policies for illegals.
Clean up voter fraud and enact strict voter ID.
Then we can talk bailout.
After all, Trump is going to lead the entire US through some form of bankruptcy and debt jubilee.... so maybe the debt has become irrelevant since such is inevitable?
Illinois has a constitutional protection for public pensions. This structural defect must be removed before ANY pension relief aid.
When the rules are written, consult an old story by H. Beam Piper, “Lone Star Planet”. We’ve tried being nice, next time we should hold them accountable, and not just during an election.
Where u at?
I’m in Marion, down south a good ways...
The political situation is such that a bailout will be forthcoming for most states.
However:
First allow states to redirect existing federal monies
Second demand a 20% across the board cut in all departments
Third target additional federal monies to specific programs
Fourth Never, ever bail out the pension fund
And never pay coupon on the bonds
Yup, US retirement accounts are the largest pool of money in the world.
The dems are desperate to get at it.
Trump should say such in very plain language during the election.
Money talks, the majority will listen.
I’m inclined to say no, however, mandatory voter ID, purge voter rolls every 5 years, end pensions and give all new hires 401k, no raises for elected officials unless the citizens vote on it and ending government unions to start might make me reconsider.
North Pekin. Tazewell county................Central Illinois, very red.
My f-ing god,they never stop and are so predictable! Every parasite in America wants something as there are people dying of the virus.
Yes, I know the area, nice folk there.
I was born n raised in Rockford, had family in nearby Chicago too.
Rockford was beautiful back then, a hellhole now.
I looked at our old family home and it was for sale, still looked the same, would have been fun to live there once again but the city is lost.
I live in Illinois too, to my great sorrow. I also say, NOT ONE PENNY. This state is a lot like Mexico, good natural resources, some good people and a government so corrupt that we will not recover until they are all gone.
“Not a penny. I am a former Illinois resident, I was born there. Not a penny.”
ditto
The problem with Illinois is that they eventually move to Texas and Florida. Just like the borg.
We left and came to Oklahoma. One daughter and my sons are still in Illinois. They’d love to leave, but because of ex husband problems, my daughter can’t, and my daughter in law is in the pension plan, and in case it does stay solvent, (haw haw haw) she’s got another 20 some years to go. Her husband (my son) only has a 401k, which he is trying to manage well, but it’s rough right now. Besides, if they moved, it would have to be to a more northerly state, where dil’s parents live. My other son is stuck there taking care of his invalid father. They all hate it. My other daughter left years ago, and went to Texas. The good news -— they’re all conservatives. Thank You, Jesus!
We thought the rats weren’t going to be able to pul the red state/ blue state game with opening things up because of the state revenues going down to nothing . We were Wrong they are just going to extort the country. Give us money or we won’t open the economy. A rat is a rat is a rat.
Oh, I just read your tagline.
Are you really a banjo picker?
I’d love to be able to play a banjo!
Every once in a while I toy with the idea of ordering a cheap one on ebay just to play with it.
Tax the older pensioners to take care of the new pensioners.
Sort of a Ponzi-like scheme.
so now we see the end game.....fed. tax payers will bail out all these over paid under worked govt employees, who the btw, are home vacationing on full pay as we speak.....
Nope.
“And now I read articles by economists that are THRILLED That republicans finally see that debt size doesn’t matter”
Do these economists remember the interest rates during Carter/ early Regan?
No. Not one damned dime.
Ever.
L
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