‘Amazing Progress’ Illinois Style: Welcome To The Obama Expressway!

‘Amazing Progress’ Illinois Style: Welcome To The Obama Expressway!:

Illinois has been without a budget for two years and its bonds, already the lowest in the nation, face a downgrade to junk… Progress was announced yesterday: By an 84-0 vote, part of I-55 will be renamed the Obama Expressway.

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Illinois Comptroller: “The State Can No Longer Function, We Have Reached A New Phase Of Crisis”

Illinois Comptroller: “The State Can No Longer Function, We Have Reached A New Phase Of Crisis”:

With just 10 days to go until Illinois enters its third year without a budget, resulting in the state’s imminent downgrade to junk status and potentially culminating in a default for the state whose unpaid bills now surpass $15 billion, Democratic Illinois Comptroller Susana Mendoza issued a warning to Illinois Gov. Rauner and other elected officials on Tuesday, saying in a letter that her office has “very serious concerns” it may no longer be able to guarantee “timely and predictable payments” for some core services.

Read moreIllinois Comptroller: “The State Can No Longer Function, We Have Reached A New Phase Of Crisis”

Illinois State Official: “We Are In Massive Crisis Mode, This Is Not A False Alarm”

Illinois State Official: “We Are In Massive Crisis Mode, This Is Not A False Alarm”:

“I don’t know what part of ‘We are in massive crisis mode’ the General Assembly and the governor don’t understand. This is not a false alarm” said Illinois comtroller Susana Mendoza, a Chicago Democrat.

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Unable To Pay Bills, Illinois Sends “Dear Contractor” Letter Telling Firms To Halt Road Work On July 1

Unable To Pay Bills, Illinois Sends “Dear Contractor” Letter Telling Firms To Halt Road Work On July 1:

“Illinois is not in danger of becoming a failed state, it is a failed state…”

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“Now The Pain Begins”: S&P, Moodys Cut Illinois To Near Junk, Lowest Ever Rating For A U.S. State

“Now The Pain Begins”: S&P, Moodys Cut Illinois To Near Junk, Lowest Ever Rating For A U.S. State:

“We’re going to start to see some real pain now,” Senate President John Cullerton told reporters in Springfield on Wednesday after both S&P and Moody’s downgraded Illinois to just above junk, the lowest ever rating for a US state. “We’re going to start to see downgrades. We don’t have any funding for schools. We don’t have any funding for higher end and a bunch of social programs.”

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Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes

Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes:

Senate Democrats in Illinois are pushing ahead with a new budget proposal that includes a massive personal and corporate income tax hike and an expansion of the state’s sales tax, after saying they are no longer willing to wait for a broader deal with Republicans.  In all, the package is expected to cost Illinois taxpayers an incremental $5 billion.

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Illinois Stiffing Vendors To Fund Budget Deficits – It’s A “Financial Time Bomb”

Illinois Stiffing Vendors To Fund Budget Deficits – It’s A “Financial Time Bomb”:

No other state or business would operate by incurring obligations to its vendors and setting up a third-party payment structure that dramatically inflates the costs of those services.”

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New Study Finds Taxpayers Are Fleeing New York, Illinois and California

New Study Finds Taxpayers Are Fleeing New York, Illinois and California:

A new study, highlighted by the Albany Times Union, indicates that taxpayers are fleeing New York and California though we’re sure it has nothing to do with oppressively high costs of living and/or burdensome tax rates in those states.

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