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Column: What to do with a broken Illinois: Dissolve the Land of Lincoln

chuckiechan

chuckiechan

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What to do with a broken Illinois: Dissolve the Land of Lincoln - Chicago Tribune

I find this to be a witty and entertaining article, albeit about a tragic situation that will set a precedent as to how other upcoming state bankruptcies will be handled.

Illinois is like Venezuela now, a fiscally broken state that has lost its will to live, although for the moment, we still have enough toilet paper.

But before we run out of the essentials, let's finally admit that after decade upon decade of taxing and spending and borrowing, Illinois has finally run out of other people's money.
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chuckiechan said:
What to do with a broken Illinois: Dissolve the Land of Lincoln - Chicago Tribune

I find this to be a witty and entertaining article, albeit about a tragic situation that will set a precedent as to how other upcoming state bankruptcies will be handled.
Click to expand...

I agree, a witty and entertaining article.

For me, the glaring reality of Illinois forebodes the fate of a number of states, and more specifically, California.

To the point was the second paragraph.

But before we run out of the essentials, let's finally admit that after decade upon decade of taxing and spending and borrowing, Illinois has finally run out of other people's money.​

Purchasing political influence and assuring longevity in elected office by dolling out other people's money to select audiences is the cancer eviscerating once prosperous, but very liberal states.

When the limit has been reached, and there is a limit, what then?

Illinois is the first warning towards a long and painful reality many have predicted, and have sadly been ignored.
 
chuckiechan said:
What to do with a broken Illinois: Dissolve the Land of Lincoln - Chicago Tribune

I find this to be a witty and entertaining article, albeit about a tragic situation that will set a precedent as to how other upcoming state bankruptcies will be handled.
Click to expand...

Well, you cannot continously spend more than you earn. When the economic base starts stagnating or shrinking, because you need to reign in spending and all the more, if the economy is being hurt by government activities. But, what to do? Auctiin off the State's assets, fire employees and cut pensions and social spending; cut taxes on top income and corporations to entice new industry into the State? Cut regulation?
 
joG said:
Well, you cannot continously spend more than you earn. When the economic base starts stagnating or shrinking, because you need to reign in spending and all the more, if the economy is being hurt by government activities. But, what to do? Auctiin off the State's assets, fire employees and cut pensions and social spending; cut taxes on top income and corporations to entice new industry into the State? Cut regulation?
Click to expand...

As the state depopulates, you shrink government.
 
fmw said:
The voters have done it to themselves. And they can fix it at the ballot box if they will.
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Illinois problems stem from the slaughterhouses that were in Chicago.
 
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