Home Illinois News The Case for Allowing U.S. States to Declare Bankruptcy – Bloomberg Business The Case for Allowing U.S. States to Declare Bankruptcy – Bloomberg Business January 23, 2016 6 Facebook Twitter Linkedin Email Print Read up, folks. 6 Comments Newest Oldest Most Voted Inline Feedbacks View all comments Advocate 4 years ago When one chooses to attack the messenger and not the message, they expose intellectual deficiencies. Lets not make it personnel Mark, both of us do understand. 0 Advocate 4 years ago When conservatives turn to striking fundemental priciples of State sovereignty and blindness to constitutional provisions of the Contracts Clause and Supremacy Clause, and ex post facto, all for the sake of fiscal convienance. How radicalism prospers indeed. Lets amend the State Constitution in the face of budget struggles wirepoints suggests. When do Americans sacrifice fundemental values and principles for budget convienance? Americans and conservatives stand by their values and laws in the face of adversity. At times it takes courage, albeit in crisis, to stand by our fundemental values;still, it is not courageous to run from our values, for the… Read more » 0 mark glennon 4 years ago Reply to Advocate Mindless nonsense. The Constitution means what courts say it means, and nobody has ever suggested defying a court order. The Bankruptcy Code, its amendments, the ex post facto clause, the contracts clause and all the rest will be duly interpreted and those interpretations will be followed. 0 Advocate 4 years ago Reply to mark glennon Defying a court order? Who said that? I sure didnt. And Nonsense Mark, is to ignore or dissmiss that you fail to confront. 0 mark glennon 4 years ago Reply to Advocate You fundamentally just don’t understand. 0 J.A. Herzrent 4 years ago Public employee unions oppose bankruptcy because it would force an encounter with financial reality and lead to an apportionment of existing pension assets among ALL pension beneficiaries. It would also put the future cost of retiree health care out there for everyone to see. The result would be cutbacks of benefits for those already retired and diminished expectations for those still working. Since the courts insist on calling all these expectations “contract rights” we are left with the bankruptcy as the only solution. Delaying bankruptcy simply gives public employees and retirees time to deplete further the existing funds and to… Read more » 0 Wirepoints Original Stories Illinois’ COVID-19 data: Daily update for October 28, 2020 – Wirepoints October 28, 2020 Daily COVID-19 data update for October 28, 2020. View Comments (361) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter. Taxpayers and smaller retailers hammered by $741 million subsidy for Amazon in Chicago area – Quicktake October 27, 2020 It's beggar-thy-neighbor policy at its stupidest. Instead of banning it, the state participates in it through its EDGE program. View Comments (9) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter. Read it and weep: Cook County Treasurer Pappas details 20 years of astronomical property tax hikes – Quicktake October 27, 2020 Here's something you don't see every day: A politician providing excruciating details on tax increases. View Comments (19) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter. Illinoisans Apparently Seeing That ‘Fair Tax’ Is The Wrong Amendment On The Ballot – Wirepoints October 26, 2020 Which amendment should be on the ballot, the progressive tax increase or pension reform? The silence of Fair Tax supporters tell us why they aren’t asking. View Comments (30) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter. Was Thomas Jefferson right? New study quantifies flight from America’s big cities during pandemic. – Wirepoints October 25, 2020 Jefferson's views about cities were not embraced by the nation for 230 years, but that may be changing. Most of his other views were held sacred, but that, sadly, is also changing. Time will soon tell which ones prevail. View Comments (7) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter.