Tag: Illinois' financial crisis

Why other states should bail out near-bankrupt Illinois

I think the idea is nonsense, but perhaps as a indication of what Illinois’ Democrats will try to do to save Illinois from going over the cliff, I present the liberal argument why the rest of America should  bail out Connecticut, in the throes of its own financial crisis: If Rich States Need Federal Help, Remember... 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 »

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 »

Bill Daley wants an Illinois constitutional convention; me too

Bill Daley–he of the powerful Democratic Daley family–said in a Tribune op-ed that he sees the need for a new constitutional convention to reform how our legislative districts are drawn. It is a necessary step if we are to fix the state’s deeply embedded political and financial problems. In “Voters, take back your state,” Daley... Read more »

How to dump House Speaker Mike Madigan

The first step to fixing what ails Illinois is to dump House Speaker Mike Madigan. The governance and labor reforms proposed by Gov. Bruce Rauner won’t do it until Madigan is removed from the speakership. Higher taxes won’t do it either. The finger of blame for the Illinois in-the-toilet condition points directly at Madigan–for all... Read more »

How Gov. Rauner can bring down Boss Michael Madigan

John Kass has a brilliant column in today’s Chicago Tribune on how Gov. Bruce Rauner can bring down the seemingly invincible Boss Michael Madigan. Madigan has been running things for decades in Illinois and is deeply responsible for bringing the state to its financial knees. But because Madigan has a grip on his own legislative... Read more »

Yikes! Illinois financial crisis worsens

Didn’t think that it could get any worse? Fair warning Illinois voters, the state’s financial crisis is worse that what a lot of us thought. The Civic Federation of Chicago has done an eye-opening analysis of the state’s budget and came to some dire conclusions. Despite claims (from the Democrat state candidates and leadership) that... Read more »

Even the New York Times recognizes that Illinois is in the toilet, about to be flushed

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