Category: financial collapse

A snapshot of the strangle hold that government pensions have on Illinois

We keep hearing about how government employee pensions are killing the state of Illinois, but we’re always in need of another reminder because House Speaker Michael Madigan–the handmaiden for Illinois public employee unions–and his Democratic toadies refuse to let the reality sink in. So, here’s another one that in simple and stark terms shows how Illinois’... Read more »

Brother, can you spare another $6 billion?

Illinois is heading toward a catastrophe. Public employee unions get stiffed, along with others. Illinois Comptroller Leslie Geissler Munger has warned  that “the State of Illinois is on pace to spend an additional $6.2 billion more than it receives in revenue this fiscal year alone if the state continues its current rate of spending without... Read more »

Sequestration: It's Much Ado About Nothing

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Chicago and Illinois: America's armpit

I didn’t write this, so I can’t take credit (or blame) for it.  But it is kicking up dust on the Internet for some time. (It obviously was written some time ago because the body count numbers don’t compute.) Perhaps the U.S. should pull out of Chicago ? Body count: In the last six months... Read more »