Opinion: Pritzker risks bankrupting Illinois to curry favor with Big Labor – The Hill

The governor celebrated his and AFSCME’s windfall by tweeting out, “Illinois is a pro-worker state through and through.” The pronouncement was eerily reminiscent of Biden’s one-time campaign promise to become the “most pro-union president you ever saw.”
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debtsor
8 months ago

States cannot go bankrupt but can become insolvent. States are sovereign entities, almost like small countries unto themselves. The state even runs its own court system, the court of claims, the only place to sue the state of Illinois for non-payment of debts. The reality is that Illinois will eventually partially default on its debt and then lose access to credit markets, and then stop paying the pensions. PPF thinks that pensions will be paid first, but that’s not going to happen, especially when pensioners are merely parties to a contract, and not a secured creditor or bond holder. When… Read more »

Ex Illini
8 months ago

Pritzker doesn’t care. He has much bigger plans. He wants to become president and bankrupt the entire country.

Da Judge
8 months ago
Reply to  Ex Illini

God help us if this tax cheat, Guv Pigchop, runs for Prez.

He’s your typical lying, big spending, and big taxing Dem.

I did not say corrupt as so far he’s avoided all the corruption in Dem controlled Illinois.

Penny
8 months ago

Wow, this is a good article. I think I’m going to read Aaron Withe’s book–Freedom is the Foundation.

Riverbender
8 months ago

There is no provision for States to go bankrupt. Pritzker certainly knows that but apparently the writer of that article doesn’t. What it does mean then is higher taxes. Bankruptcy would let taxpayers off the hook but that can not happen. So cut spending or hike taxes and my guess is the Illinois voters will chose higher taxes.

Fight Harder
8 months ago
Reply to  Riverbender

No Federal provision yet…

Old Joe
8 months ago
Reply to  Riverbender

Perhaps in law but in practice entire countries have been bankrupted. Google on Venezuela for a recent example.

Fight Harder
8 months ago

RICO

Poor Taxpayer
8 months ago

It is already bankrupt. It is morally corrupt in every way. Sold out to the Public Sector Unions. The poor taxpayers should flee like the hundreds of thousands have already.

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