Posted on 06/28/2017 7:41:14 AM PDT by Leaning Right
The Illinois Lottery announced Powerball and Mega Millions tickets won't be sold in the state after this week due to the state budget crisis.
Powerball sales end tonight while Mega Millions will follow on Friday.
*snip*
While the Illinois lottery will continue to hold drawings, anyone who wins more than $25,000 dollars will have their prize payments delayed.
(Excerpt) Read more at wgntv.com ...
>>Hurry up folks. Buy your Illinois Powerball and Mega Millions tickets while you still can.<><
There goes the retirement plans of millions of idiots.
Things that are impossible won't happen, whether a judge rules them to happen or not. The question is whether it can happen or not.
They, AND Kali, likely thought ILLary was a shoe in and would force the rest of the USA to bail them out.
Courts have ruled that the state is constitutionally required to pay the full pension amount. Everything else waits in line for any money that might be left.
So they are going to shut down the only things that actually earn them money.
Good move. Really good move.
I’m saying right now the solution is simple: have Cook County—the county of Chicago—declare Chapter 9 bankruptcy at the first opportunity. Just that would go a long, long way towards curing Illinois’ fiscal problems, because the vast majority of pension payment issues is located in that county.
This is too strange. So if you win the Illinois lottery you have to wait to get paid???
Doesn’t the lottery have money from ticket sales to pay prizes? Isn’t it structured so that a certain amount is paid to winners, while the “house” or state keeps the rest?
I don’t see how the lottery can be broke. Did the liberals siphon off lottery funds to pay for other things? If so isn’t that against the law???
Waiting to see the headline on the Chicago Tribune:
Trump to Illinois: Drop Dead
Now they’re hurting the citizens where it counts. You can say all you want that there’s no money for bridges and buses and schools and prisons but when you take away their LOTTERY tickets - NOW, you’ve got their attention.
> Doesn’t the lottery have money from ticket sales to pay prizes? Isn’t it structured so that a certain amount is paid to winners, while the “house” or state keeps the rest? <
Most state lotteries are structured so that - long term - the state gets 50%, and the winners get 50%. That payoff is worse than the worst slot machine in a casino. And it’s worse than even what numbers racket pays (the mob pays 60% to the winners).
But it all can be explained by something COUNTrecount noted: The Illinois Lottery transferred $691.6 million to the Common School Fund during fiscal year 2016.
They’ll eventually approach Trump and demand a bailout from the Feds like New York did only this time, Trump will say KISS MY ASSETS and then have his boys buy up half the Golden Mile.
I suspect the judge(s) was fully aware his ruling had no effect on economics. I'm guessing he also knew the ruling class has no problems with breaking promises and was just driving a stake through the heart of the corpse to make sure it didn't join the ranks of the walking again.
Madigan’s plan all along, obstruct and delay until the next crisis gives him enough cover to steal even more from honest, hardworking Illinois taxpayers.
Chicago thug politics at its best. If/when Illinoisians wake up(instead of just moving away) there will be hell to pay.
Madigan’s plan all along, obstruct and delay until the next crisis gives him enough cover to steal even more from honest, hardworking Illinois taxpayers.
Chicago thug politics at its best. If/when Illinoisians wake up(instead of just moving away) there will be hell to pay.
I am sure the retired Detroit employees felt the same way.
Federal judge approves Detroit pension cuts
"State and local governments across the nation have watched Detroit’s bankruptcy proceedings closely, wondering if cuts to public employee pension benefits would be approved. On Nov. 7, they got their answer. A federal judge approved Detroit’s historic Chapter 9 bankruptcy, allowing the city to shave off $7 billion in liabilities from a total debt of $18 billion."
"The results of Detroit’s struggles in bankruptcy should be a lesson to Illinois, the city of Chicago and other local governments. If Illinois continues down the same path of politician-run pension plans, public employees will be faced with harder choices and bigger cuts to pensions than their counterparts in Detroit. Chicago’s pension shortfall dwarfs the Motor City’s."
In New York City, “If I can make it there
I’ll make it anywhere”, in New York State, they used to have a OTB operation, (Off Track Betting Pari-Mutual), and they were so fu*ked up they had to close it down because it went bankrupt. And the Democrap Politicals had to find other ways to payoff their “welfare wards”.
We are watching property taxes here in CT like a hawk.
At the first sniff of a major property tax hike we are outta here...along with hundreds of thousands of middle class baby boomers.
WTH is this? Considering the size of the Illinois deficit and the amount of payout/tickets sold this seems like a BS PR trick. Sort of like whenever budget cuts are floated they always start with police and schools
for leverage.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.