Nearly $40 billion budget proposal surfaces; Republicans say it’s $5.8 billion in the red – Center Square

At $8.6 billion, Illinois' underfunded pensions will get level funding from fiscal 2020. The state’s pension system has more than $136 billion in unfunded liabilities.
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NB-Chicago
3 years ago

Isnt the $billions theyre boroughing from feds ( can’t remember all the acronyms for all the differnt programs) suposed to only go towards covid related expenses..will be interesting to watch how they make claims that expenses are covid related…and am sure this is motivation behind all the inflated stats

MikeH
3 years ago
Reply to  NB-Chicago

“…and am sure this is motivation behind all the inflated stats”

That is it precisely. For lack of a better term, Illinois exists in a bubble. Here it is 2020, where the information is out there and available, yet far too many in this state go about assuming that everywhere else is the same way.

As an aside, I’ve found a good acid test for whether something is actually happening is when progressives try to project it into those of us who choose to live in fiscal reality. For exhibit A, here’s “the other guys”

https://capitolfax.com/2020/03/09/life-in-the-bubble/

UnclePugsly
3 years ago

It’s not a budget if it has a $6B hole in it on day one.

debtsor
3 years ago

This is delusional. I have no idea what political angle they are taking with this. The federal bailout won’t be forthcoming when congress sees that IL made zero effort, quite literally, zero effort, to reduce spending in light of reduced revenue. Even California cut salaries of all employees 10%. And there’s virtually no news coverage of this, no one cares, no one reports on it, no one says “hey, maybe we should cut a little because of the loss of revenue.” Do they really think they’ll be bailed out and all will be forgiven? It’s insanity.

Bill
3 years ago
Reply to  debtsor

“Do they really think they’ll be bailed out and all will be forgiven?”

Yes. All you have to do is believe…

UnclePugsly
3 years ago
Reply to  debtsor

Actually, it seems Illinois increased spending.

No bailouts!

The Truth Hurts
3 years ago
Reply to  debtsor

Plenty of money as I’ve been saying all along. The state will borrow from the fed and never pay it back. If forced to pay it back they will just raise taxes and say it’s necessary because the Senate wouldn’t approve the bailout. They get to blame the tax increase on someone else. Lots of moves left. 1. Borrow from the fed 2. Get bail out or loan forgiveness 3. Get “fair tax” amendment approved. If not raise flat tax and attempt amendment again. 4. Tax services. 5. Raise progressive rates so the top bracket is around 13%. 6. Once… Read more »

debtsor
3 years ago

All of that money still isn’t enough to satisfy the beast. Default is now inevitable.

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A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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