The Progressive State Pandemic Hangover – Wall Street Journal

image "Personal income in California, Illinois and New York declined in 2022 for the first time since 2009 as Covid transfer payments ebbed.... Some states such as Florida and Georgia spent their federal funds on public-works projects. California, New York and Illinois used their allotments largely to cover pre-existing budget shortfalls, boost government worker pay, and bake into their budget new spending obligations. Those will become shortfalls once the pandemic money boom ends. Taxpayers, look out."
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Da Judge
7 months ago

Another good WSJ article on Fed and State overspending.

The Data Prove Government Is Spending Too Much – WSJ

Had the federal government limited the growth in spending to a maximum of the population growth rate plus inflation during that decade, in 2022 the federal government would have spent $1.6 trillion less than it did, resulting in at least a $200 billion surplus. If the federal government had done this over the past two decades, the national debt would have increased by less than $500 billion instead of $19 trillion.

JackBolly
7 months ago

With mortgage rates at 8%, used car rates over 10%, credit card rates over 20%, and home assessments increasing, illegals flooding in demanding free things, you are about to see the average IL taxpayer get even more poor in 2023 and beyond.

debtsor
7 months ago
Reply to  JackBolly

But diversity is our strength!

JackBolly
7 months ago
Reply to  debtsor

Democrats are largely a cult driven by wokeness ideology, the mask is their talisman, and like Lemmings jumping off the cliff will show blind obedience till they are no more.

Ataraxis
7 months ago
Reply to  debtsor

Visual diversity only.

Pensions Paid First
7 months ago

It’s only balanced because of the Edgar (Republican) pension ramp. The budget is balanced according to our laws but not balanced according to true accounting principals. Don’t like it? Change the law to require full actuarial payments. Otherwise the voters on both sides of the aisle are complicit in each and every budget.

debtsor
7 months ago

“Otherwise the voters on both sides of the aisle are complicit in each and every budget.”

Not true.

Riverbender
7 months ago

And that is why Illinois taxes are so high but are not high enough. Illinois could cut spending but the voters of Illinois would not stand for that. Quite frankly Illinois voters love spending especially when it is other peoples money.

Goodgulf Greyteeth
7 months ago

Some states such as Florida and Georgia spent their federal funds on public-works projects. California, New York and Illinois used their allotments largely to cover pre-existing budget shortfalls, boost government worker pay, and bake into their budget new spending obligations.”

Counting down to the launch of ‘all is well’ screeds from Miller-n-Martire –

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