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Illinois may soon be first US state to be given Junk Bond rating

UCFKnight85

GOL's Inner Circle
Gold Member
May 6, 2003
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Can't say I'm surprised or feel sorry for them. My entire extended family came from Illinois yet most everyone has left by now since it's such a stagnant shithole, run entirely by the Chicago political machine that answers to the Union mob bosses first and foremost.

The state is more than $8B in the hole and they have a dwindling tax base since people are leaving. Just like CT, they've taxed a lot of wealthy people out of the state and have overpromised on social spending freebies. They're about to have their bond rating slashed to Junk.

Meanwhile the Democrats who control the congress won't give an inch to a rare Republican governor who was elected specifically on promises to reform the business environment in the state. this of course is a no-go for the D's and their union bosses.
 
$15B in unpaid bills.
$250B in pension obligations that aren't covered.

Democratic policy at work.
 
It's a microcosm of what will happen at the Global level. If I can move elsewhere to pay significantly less taxes without sacrificing standard of living, I will. The same logic applies to businesses and individuals in the Global environment.
 
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FREE EVERYTHING FOR EVERYONE!!! JUST TAX THE RICH MORE!!! 100'S OF THOUSANDS OF PEOPLE WILL DIE IF WE DON'T!!!
 
FREE EVERYTHING FOR EVERYONE!!! JUST TAX THE RICH MORE!!! 100'S OF THOUSANDS OF PEOPLE WILL DIE IF WE DON'T!!!
The bosses with their loopholes didn't mind paying higher taxes back in 57. Before we allowed multiculturalism and gave more idiots rights.
 
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