Last week, Ted was on with Brian Costin of Americans for Prosperity discussing Illinois’ worsening financial crisis and what it means now that the election is over.
Read more about Illinois’ financial crisis:
- O.K. readers, you tell us how Illinois’ fiscal crisis will turn out
- Amend Illinois’ Pension Protection Clause Right, and Act Now
- Nine facts Chicago’s City Council ignored when passing the city’s 2021 budget
- Illinois to borrow billions from the Feds AGAIN, only state in country to tap government lending program
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
Audio and summary 
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Lacy’s Law
INCOMPETENCE + CORRUPTION = BANKRUPTCY
I have been hearing about Illinois’ downfall for years regarding its credit rating et al. Those rating outfits never tell the truth as if they are somehow stooges for Madigan.
IDK Ted Dabrowski talks and talks about how much the US Bond market may down grade IL bonds to junk but nothing ever happens. Ooohh gues what Ted they never did down grade IL Bonds or Chicago Bonds Politicans in IL will just come up with another tax or require State workers to work til 60 or 65 instead of 55 yro, so what, who cares, Now that Biden is in he will no doubt bail out the state and all will be fine. Until there is a complete financial collapse either in Chicago or in the State nothing will… Read more »
Must be a nice gig being a union shill..
No Union,Im just saying thats what they will do, Look, Lighfoot already raised property taxes, the state will probably raise income taxes soon, have the bonds been rated junk? no, has the city gone bankrupt? no. So until that actually happens I dont think anybody will take notice til then
Now Rahm will convince Sleepy joe to give IL more money and all will be fine for the corrupt politicians here. We will have to wait and and see the outcome
Wasnt knocking Ted, he has great commentary on IL cespool
Ed, government in and of itself has no money.
It gets it by either
1) Taxation, ie. taking your money
OR
2) Devaluation of the money pool by wanton printing.
I hope you get your bailout, long and hard.
In the end, you’re paying for it.
<SLOW CLAP>
Agreed Locke, however Sleepy Joe & company will lay fiscal mismangement blame game on Covid and start printing money for Lib states like IL, CA and NY, Biden already said in debates he is going to raise our taxes, so in the end we will all be paying for it
Said like a good little sycophant.
Like I said, enjoy that bailout long and hard, you my man have truly earned it.
Maybe you can trade some of those pension bucks for some beads down the line, get deep into barter economics.
“Maybe you can trade some of those pension bucks for some beads down the line” …. once again my man not in a Union and for some reason you don’t understand that, however when sleepy joe signs on the dotted line we could both enjoy that bailout long and hard unless you live in Canada
Which union do you belong to Ed?
“Now that Biden is in he will no doubt bail out the state” keep dreaming, there’s enough blue states in the senate that will not vote for a bail out even if the Dims win Georgia
Absolutely correct Goose. Why would any state, regardless of part, want to bail out another? We have big hearts for natural disasters but Illinois doesn’t fall into that category. It’s a man made disaster.
party
It would be political suicide for many Dem senators to vote to tax their constituents more to fund six figure pensions in California and New York.
Don’t forget Illinois
Good point, Fed Up. I didn’t include Illinois because maybe they don’t get the scorn that CA and NY do. But then again . . .
I have long been saying that, too, but look what House Dems tried to do to overcome that with their initial, huge bailout package. It went far beyond what was needed to compensate for the pandemic, but the formula for apportioning the aid was quite generous to small, red states. Essentially, they were trying to buy off the votes of those who don’t need a bailout. Might work on some in both the House and Senate.
Biden can’t bail out the states even if they win the Senate I’m not sure there’s enough red states that are willing to bail out the blue ones. They keep trying to put in the state buyout and blaming the GOP but I’m not sure a new house will even pass that nonsense AND they have downgraded the start several times, it will be junk shortly (well it is junk)
Lets not forget Obama bailed out the banks for a cool $700 billion in 2008, Dems will leverage Covid anyway they can to get what they want.