Illinois: worst state

debt burden.jpgCompared with the 50 state, Illinois might as well be a banana republic. Illinois ranks dead last in Forbes magazine's ranking of the financial health of the states. Worse than California, (ranks47th) whose own debt bomb is about to explode the state right into the Pacific.Worse than Michigan (39th), a state racked by the recession and a Model T auto industry. Embarrassingly, worse than our immediate neighbors, Indiana (15th), Wisconsin (41st) and Iowa (8th).
Forbes uses an index of debt per capita, unfunded pensions per capita, gross state product, population loss and percentage change in tax revenues. Needless to say, to land dead last, Illinois had to do awful in most of those measures. 
For the gory details, go here. Of particular interest is Illinois' "moocher rate." Notice is taken of the fact that Illinois has fallen into this dismal state under the leadership of Democrats.

Filed under: Illinois politics

Tags: debt, Forbes, Illinois

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  • Again, we must wake up and elect new people to represent us.There is a long list to vote for,any connections to the present bunch go the other way.Lets give Springfield,Cook County and city hall a clear message.SEE YA

  • Dennis, please keep up the good work exposing the real problem to the state's financial mess - public pensions.

    Those pensions are criminal and we all are paying for it. It's highway robbery, and I don't believe many people understand how ridiculously lucrative they are. It's absolutely mind-boggling.

    gov't employees can retire at 50 with 80% (80% !!) of the avg of their final 3 years salary. PLUS, they get automatic 3% escalator raises for COLA every year !!!! Most people don't get 3% raises in their jobs each year, yet these guys get 3% raises for doing NOTHING !! at taxpayer expense !!!

    People, wake up !!!
    And I know some of them, they are laughing all the way to the bank...literally.

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