Yesterday I bet on a MSW race at Fairmount Park. Purse was $9,000 which translates into Owners and Trainers not making any money and horses getting less than great care. If the IL legislature would authorize slots at Fairmount, purses would double and the State would add to their revenue.

My understanding is that the 10th amendment prevents a state from filing for bankruptcy protection. Neither is there anything in the constitution that supports a bailout.

However, the reality is that what the government would likely do is LOAN money at ridiculously low rates to the state. Since this money will not likely ever be paid back, it is, for all practical purposes, the same as a bailout and translates to the taxpayers once again assuming the debt.

I think it's safe to say that the IL legislature has long been in the pocket of the casino owners. I'm not sure if it was the greed of Illinois horsemen, the track owners like Duchossois, or some other factor, but in Illinois the idea of racinos never got much traction. And casinos were also able to avoid the "Native American" requirement, and instead only had to dance around the ridiculous "riverboat" specs.

It's tempting to chuckle and point fingers and laugh at Illinois' woes now (having moved out-of-state four years ago), but in the back of my head there's a little voice that's saying "...it's coming here soon - nobody gets out alive...."

http://twitchy.com/sd-3133/2017/07/0...nois-democrat/

I'm starting to understand the problem

nobody has ever accused liberals of being good at math:pound:

I suspect any bail out would depend on who is in office. But once we go down that road, they we would have created another entitlement, this one for the states.

Let the people of Illinois assume 100% responsibility for the debt.
It was due the idiots THEY elected over the years.
Not one penny of bail out money.

NHO state is too big to fail.
Besides, we more than enough states....what, 57, 58 at last count?

Just spent some time in Chicagoland - a 25 min. cab ride from O'Hare to Union Station took 1 hr., 45 mins, cost me $65, and almost a missed train. A messed up town, for sure - traffic impossible.

For the record.....they went ahead and passed the tax increase

Vetoed by the Gov

Over-ridden by the Senate

Sitting in the House

15 House Republicans voted for it last time. If two switch the veto will be sustained.

Gov Abbott of Texas was asked today how long before he makes another recruiting trip to Chicago to lure business away.

He laughed and said they were already calling him over the weekend......:lol:

Btw, Toyota officially opened their new HQ in Plano Tx this week.

The shift from SoCal is in gear.

Dumb move. If they had stayed in Cali, all of their employees eventually would have gotten free universal health care, and Toyota would not have to give it to their people as a benefit. :p

I'm willing to bet dollars to donuts that if CA does pass a universal healthcare law, employers will be footing part of the bill.

And employees will be footing the rest of the cost through payroll taxes. They can all afford it now that they are getting "free" health insurance. :rolleyes: