Posts in category "Budget"

What government shutdown?

Woke up this morning completely oblivious to the “government shutdown!!!!” Didn’t remember until I turned on the news and was pummeled with the news that we were in the middle of  a “government shutdown!!!!!” Went through all day yesterday, working on freelance stuff and watching the New England Patriots win another trip to the Super... Read more »


That’s the nation debt, in case you’re wondering. That’s more than $20 trillion. It’s not a static number either; the second-by-second increase would make your head spin. See the wheels whirl round and round here at the U.S. National Debt Clock in Real Time. There you’ll also find other interesting numbers such as Gross Debt to... Read more »

Another scandal: Illinois budget does nothing about biggest problem--pension debt

Funny how so many people are glossing over this scandal: The budget that was crammed through by House Speaker Michael Madigan does absolutely nothing about the outrageous public employee pension debt. All the hosannas about how Illinois finally got a budget after three years are either a sign of willful ignorance or intentional deception. Most... Read more »

Moody's: Madigan's tax hike possibly not enough to avoid Illinois junk bond rating

Moody’s Investor Service warned on Wednesday that big income tax increase  engineered by House Speaker Mike Madigan might not be enough to prevent the rating service to send Illinois bond’s spiraling into junk status. In a statement, Moody’s said: The decision to place the state’s ratings under review for downgrade incorporates our expectation that the... Read more »

Senate approves big Illinois income tax hike

Gov. Bruce Rauner has warned that he will veto an income tax hike so the question on this Fourth of July is whether House Speaker Mike Madigan and Senate President John Cullerton can put together a supermajority to override the governor’s veto. Rauner signs it, game over. Madigan, the state’s de facto boss, has won in... Read more »

Ah ha! Mike Madigan's budget is $5 billion out of whack

The reporting on the Illinois House Speaker Mike Madigan’s bogus budget passed on Friday by the House doesn’t seem to emphasize what needs to be emphasized: It is $5 billion out of whack. A $5 billion deficit violates the Illinois constitution’s requirement for a balanced budget. It does nothing to get the bond ratings services... Read more »

Stupid GOP about to hand a couple victories to progs

Here’s a message to the stubborn Republicans who seem willing to hand hard-left progressives a couple of victories on health care reform and the budget: You can’t govern with 30-some votes. And your failure to govern is going to bring down the Republican Party and hand the government’s reins back to the likes of Democrats Nancy... Read more »

Illinois' hidden state government debt=$51.9 billion

In addition to the crushing debt that everyone (except Democrats) is talking about there is $51.9 billion that the state has hidden. Reports Truth in Accounting, a non-partisan government financial watchdog: Repeated decisions by state officials have left the state with a staggering debt burden of $210.4 billion, according to Truth in Accounting’s (TIA) analysis of... Read more »

How to balance Illinois' budget without a tax increase

Yes, it can be done, according to the Illinois Policy Institute, a free-market think tank. Some people will dismiss the idea out of hand because it has a conservative viewpoint. But give it a chance by going here.

Many states are cutting their budgets, but not Illinois

Truth is, Illinois doesn’t have a legitimate, full-year budget to cut. But 19 other states are taking mid-year budget cuts because its prudent–a word that isn’t in the Illinois Madigan Democrats vocabulary. Reports the National Association of State Budget Officers: Nineteen states reported net mid-year budget reductions in fiscal 2016, a historically high number outside of a recessionary... Read more »
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