"Estimates do not equal actual dollars," Susana Mendoza said. "I think it’s great news, but we can’t spend money we don’t have yet... If those revenue estimates do turn out to be correct, then I would suggest that the first thing we do, rather than to look to spend new revenue dollars, is to pay down existing debts, specifically our unfunded pension obligations.”
With SVB and Signature bank, the first two business casualties of the recession have emerged. We now know how and where unprofitable and woke start-up businesses were getting their money. Interest rate risk was completely mismanaged by these woke idiots.
The low and middle consumers are already spent and going into debt just to survive. The upper middle and high end will soon tighten their belt. Smart money and good leaders would reassess their fiscal projections and adjust accordingly, but we are talking about Illinois here.
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.
With SVB and Signature bank, the first two business casualties of the recession have emerged. We now know how and where unprofitable and woke start-up businesses were getting their money. Interest rate risk was completely mismanaged by these woke idiots.
The low and middle consumers are already spent and going into debt just to survive. The upper middle and high end will soon tighten their belt. Smart money and good leaders would reassess their fiscal projections and adjust accordingly, but we are talking about Illinois here.