ObamaLand is Crumbling

[JustRalph]

Hmmmm.......... I wonder who controls the Government in Ill-inois

http://www.nytimes.com/2010/07/03/business/economy/03illinois.html?_r=2&ei=5065&partner=MYWAY&pagewanted=print

Illinois Stops Paying Its Bills, but Can’t Stop Digging Hole

By MICHAEL POWELL
CHICAGO — Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo.

He picks the papers off his desk and points to a figure in red: $5.01 billion.

“This is what the state owes right now to schools, rehabilitation centers, child care, the state university — and it’s getting worse every single day,” he says in his downtown office.

Mr. Hynes shakes his head. “This is not some esoteric budget issue; we are not paying bills for absolutely essential services,” he says. “That is obscene.”

For the last few years, California stood more or less unchallenged as a symbol of the fiscal collapse of states during the recession. Now Illinois has shouldered to the fore, as its dysfunctional political class refuses to pay the state’s bills and refuses to take the painful steps — cuts and tax increases — to close a deficit of at least $12 billion, equal to nearly half the state’s budget.

Then there is the spectacularly mismanaged pension system, which is at least 50 percent underfunded and, analysts warn, could push Illinois into insolvency if the economy fails to pick up.

States cannot go bankrupt, technically, but signs of fiscal crackup are easy to see. Legislators left the capital this month without deciding how to pay 26 percent of the state budget. The governor proposes to borrow $3.5 billion to cover a year’s worth of pension payments, a step that would cost about $1 billion in interest. And every major rating agency has downgraded the state; Illinois now pays millions of dollars more to insure its debt than any other state in the nation.

“Their pension is the most underfunded in the nation,” said Karen S. Krop, a senior director at Fitch Ratings. “They have not made significant cuts or raised revenues. There’s no state out there like this. They can’t grow their way out of this.”

As the recession has swept over states and cities, it has laid bare economic weakness and shoddy fiscal practices. Only an infusion of federal stimulus money allowed many states to avert deep layoffs last year.

much much more at the link

and in this article.........maybe they can save themselves

http://www.weeklystandard.com/articles/self-destruction-illinois
From the link above:

Obamaland is crumbling. Democrats have firmly controlled Illinois, the president’s home state, for nearly a decade, turning it into what one Republican called “a deep blue state.” But this has changed almost overnight. In the midterm elections on November 2, Democrats stand to lose the governorship, Obama’s old Senate seat, two to four House seats, and any number of state legislative seats and down-ticket statewide offices.

[ElKabong]

lot of really great people in Illinois, i hate to see this happening...but, they did elect their leadership and legislators....if i lived in ILL, CA, MI i'd get the hell out as soon as i could... at some point public services & resources are going to be affected there

[BenDiesel26]

Does anybody find it ironic that that most liberal posters here and vigilant defenders of Obama come from the most progressive shitholes in the US, mostpost, NJ Stinks, etc. Let's be like Illiniois, right mostpost? NJ Stinks? Let's be progressive, good call. Let's ef everybody in the US over for the sake of Unions, etc. Your states stuck due to goverment policies, not Bush. Sorry. I hope we let them rot too. And if all goes well, you won't be able to move. Let's bankrupt the US with SS said FDR. Let's add Medicare/Medicaid said LBJ. Facts. It isn't working. Somethings gotta change. Obama won't do it now cause he's a pussy, and he only worries about elections. He's already admitted this that he won't do it until "NEXT YEAR". The most predictable president of all time, everybody just choses to ignore his ideology. It's right in front of you and has been for some time now.

[woodtoo]

Does anybody find it ironic that that most liberal posters here and vigilant defenders of Obama come from the most progressive shitholes in the US, mostpost, NJ Stinks, etc. Let's be like Illiniois, right mostpost? NJ Stinks? Let's be progressive, good call. Let's ef everybody in the US over for the sake of Unions, etc. Your states stuck due to goverment policies, not Bush. Sorry. I hope we let them rot too. And if all goes well, you won't be able to move. Let's bankrupt the US with SS said FDR. Let's add Medicare/Medicaid said LBJ. Facts. It isn't working. Somethings gotta change. Obama won't do it now cause he's a pussy, and he only worries about elections. He's already admitted this that he won't do it until "NEXT YEAR". The most predictable president of all time, everybody just choses to ignore his ideology. It's right in front of you and has been for some time now.

yupper :ThmbUp: s

[toetoe]

Your states stuck due to goverment policies, not Bush. Sorry.



Please don't say these things in public; especially not anywhere near Canada, where the hate thwarters feel they must "protect the public." :rolleyes: .

I read your mind just now. Naughty, naughty. [Again, :rolleyes: .]

[NJ Stinks]

Does anybody find it ironic that that most liberal posters here and vigilant defenders of Obama come from the most progressive shitholes in the US, mostpost, NJ Stinks, etc. Let's be like Illiniois, right mostpost? NJ Stinks? Let's be progressive, good call. Let's ef everybody in the US over for the sake of Unions, etc. Your states stuck due to goverment policies, not Bush. Sorry. I hope we let them rot too. And if all goes well, you won't be able to move. Let's bankrupt the US with SS said FDR. Let's add Medicare/Medicaid said LBJ. Facts. It isn't working. Somethings gotta change. Obama won't do it now cause he's a pussy, and he only worries about elections. He's already admitted this that he won't do it until "NEXT YEAR". The most predictable president of all time, everybody just choses to ignore his ideology. It's right in front of you and has been for some time now.

Has it occurred to you that tax cuts are the biggest reason we are where we are today? Or do you believe in the fairy tale that tax cuts raise tax revenue? Or the other fairy tale - trickle-down economics?

And don't worry. I'm not moving anywhere. After all, we now have a Republican governor who thinks he can reduce property taxes just because he wants to. I can't wait for all the public school layoffs; loss of non-essential classes like music appreciation, shop classes, and driver's ed; and the elimination of most extracurricular activities. :rolleyes:

Oh well. At least the kids in private schools will still be getting theirs. Tough luck for kids who can't afford private schools.

At any rate, there is a reason why NJ has been ranked at or near the top in education all these years. We were willing to pay the price unlike most states. 'Paying the price' for almost anything obviously is not a concept Republicans today understand.

[Valuist]

Illinois has the problems it does because the Dems have controlled the state for a long time and they've controlled Cook County ever since Richard Daley Sr. became mayor. But I think you will see a changing of the guard; not for Chicago mayor but in some of the Congressional seats and in Obama's old Senate seat.

[boxcar]

Has it occurred to you that tax cuts are the biggest reason we are where we are today? Or do you believe in the fairy tale that tax cuts raise tax revenue? Or the other fairy tale - trickle-down economics?

The better questions would have been: Do you believe non-stop increased social spending and corresponding tax hikes is the answer for a robust, healthy, vibrant, growing economy? In other words, it's better for the government to TAKE as much money from the taxpayers, so that the taxpayers have a lot less to put back into private sector -- the sector that actually produces wealth -- produces goods and services? In you world, the less money the private sector has and the more of OUR money the non-producing state has for its social engineering projects, this is the magical formula for a healthy economy?

Boxcar

[BlueShoe]

After all, we now have a Republican governor.
And Chris Christie is the kind that every state should have. If you dont like him, send him out here. California is going to get either a far left old hippie or a waffling RINO for its next governor. In virtually every best of and worst of poll, California, New jersey, New York, Massachusetts, and Illinois compete for the bottom rankings as the most screwed up. While Christy is only one man, perhaps in a few years Jersey will make it out of the bottom ten. California is not going to be that fortunate.

[Tom]

Has it occurred to you that tax cuts are the biggest reason we are where we are today?

Malarkey. Pure malarkey.

[JustRalph]

And don't worry. I'm not moving anywhere. After all, we now have a Republican governor who thinks he can reduce property taxes just because he wants to. I can't wait for all the public school layoffs; loss of non-essential classes like music appreciation, shop classes, and driver's ed; and the elimination of most extracurricular activities. :rolleyes:

We were willing to pay the price unlike most states. 'Paying the price' for almost anything obviously is not a concept Republicans today understand.

You said it yourself. "Non Essential" and extra curricular. And no you don't pay for it. You spread the payment for these items around to the entire community, most who do not participate but are forced to pay for those things.

"Paying the price" is very much understood by Repubs. They just want those who are getting the value to pay the price. Public schools are a rip off and total failure. If you want your kids to be the best..........you should have to pay for it. Public schools are a form of welfare. Plain and simple. Public schools controlled by unions are the greatest failure in the history of the country. Another plain and simple fact.

[NJ Stinks]

The better questions would have been: Do you believe non-stop increased social spending and corresponding tax hikes is the answer for a robust, healthy, vibrant, growing economy? In other words, it's better for the government to TAKE as much money from the taxpayers, so that the taxpayers have a lot less to put back into private sector -- the sector that actually produces wealth -- produces goods and services? In you world, the less money the private sector has and the more of OUR money the non-producing state has for its social engineering projects, this is the magical formula for a healthy economy?

Boxcar

That's not a better question at all. The question is could or can we afford tax cuts like the one's Bush gave us? Obviously, we are not going to be able to afford entitlements or the War in Iraq/Afghanistan if the tax revenue is not there to pay for these things.

At the next Republican national convention, the theme song should be that Dire Straits ditty "Money for nothing and chicks for free."

Oh yea. And "I want my MTV for free too!" :lol:

[bigmack]

NJSmelly continues on his simpleton view of economics. If he ran a McDonald's and sales/profits were down his response would be to raise prices.

[NJ Stinks]

You said it yourself. "Non Essential" and extra curricular. And no you don't pay for it. You spread the payment for these items around to the entire community, most who do not participate but are forced to pay for those things.

"Paying the price" is very much understood by Repubs. They just want those who are getting the value to pay the price. Public schools are a rip off and total failure. If you want your kids to be the best..........you should have to pay for it. Public schools are a form of welfare. Plain and simple. Public schools controlled by unions are the greatest failure in the history of the country. Another plain and simple fact.

I agree that teacher labor unions have negotiated for and actually secured too much for their members over the years. I don't blame the labor unions. That's what they are supposed to do. I blame the people who kept caving in to the union demands.

Anyway, I attended a public high school. Great education and I can assure you nobody considered it "welfare" in the 1960's. At least nobody I knew.

[NJ Stinks]

NJSmelly continues on his simpleton view of economics. If he ran a McDonald's and sales/profits were down his response would be to raise prices.

You're right. It is a simple concept. Either pay your way or go deeper in debt.

[bigmack]

You're right. It is a simple concept. Either pay your way or go deeper in debt.
All those economics professors frittering away hundreds of thousands on highfalutin degrees when they could have learned all they needed to know in the simplicity of your statement. :ThmbUp:

[toetoe]

At any rate, there is a reason why NJ has been ranked at or near the top in education all these years. We were willing to pay the price unlike most states.



This is where the two "schools" diverge sharply. Folks of my mind reject out of hand the ravings of Paul Ehrlich, Bobby Kennedy, Al "Bloodnguts" Gore, "Hurricane" Harry Reid, Barry H. Bush, etc. --- ravings based on the idea that throwing money at education, screeching about global warming, mandating recycling, demonizing oil/coal/nuclear power, taxing "sinful" practices, etc. must be right because these things make the moral emperors feel so good. After all, the motive force of these moralistic bullies is ... emotion !!! Hooray. :jump: .

Two questions on indoctrination --- oops, I mean education:

Has it ever occurred to you that the "best" state might still stink, and that it might still be way overfunded ?

Have you ever known a teacher/educator/indoctrinator/liberal to say: "Ya know, I think we got enough money this year" or "Exactly _____ billion dollars will do the trick ?" I never have. I've heard only whining and attacks on military spending.

[toetoe]

I blame the people who kept caving in to the union demands.





Okay, so let's not cave in to the demands of the Obamunists trying to shut everything down.

[johnhannibalsmith]

... and driver's ed...

I never went to school in Jersey. I never appreciated music in Jersey. But I have driven in Jersey.

That was a horrible example of a useful program - how much more awful can you people be behind the wheel?