Illinois is critical financial crisis.

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Illinois is critical financial crisis.

Post  fortuna on Sun Jun 18, 2017 6:23 am

Official warns of financial crisis in Illinois.
CHICAGO (AP) -- The Illinois official responsible for paying the state's bills is warning that new court orders mean her office must pay out more each month than Illinois receives in revenue.

Comptroller Susana Mendoza must prioritize what gets paid as Illinois nears its third year without a state budget.

A mix of state law, court orders and pressure from credit rating agencies requires some items be paid first. Those include debt and pension payments, state worker paychecks and some school funding.

Mendoza says a recent court order regarding money owed for Medicaid bills means mandated payments will eat up 100 percent of Illinois' monthly revenue.

There would be no money left for so-called "discretionary" spending - a category that in Illinois includes school buses, domestic violence shelters and some ambulance services.


Last edited by fortuna on Mon Jun 26, 2017 4:01 am; edited 2 times in total

fortuna

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California will be close behind

Post  DonMatzeder on Sun Jun 18, 2017 9:08 pm

And if Ryan has anything to do with it, all bond holders will take it in the shorts and the Feds (you and me as taxpayers in responsible states) will be picking up the tab for their socialism. We have local property tax paying for our school busses and the ambulance service is a private enterprise.

DonMatzeder

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Ain't it sad as shit how the elected officials push "WE THE PEOPLE" into socialism?

Post  fortuna on Tue Jun 20, 2017 4:02 am

When will Americans stand up on their hind legs and screech "FUCK NO" to saving those who created the problem in the 1st place. It's not my fault, why should I have to pay?

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Re: Illinois is critical financial crisis.

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