Reply
Go Back   TexasBowhunter.com Community Discussion Forums > Topics > Current Events - Politics and Such
 
Thread Tools Display Modes
Old 06-21-2017, 12:10 PM   #1
jerp
Pope & Young
 
jerp's Avatar
 
Join Date: Oct 2006
Location: Aledo
Hunt In: Shackleford Co.
Default Illinois is about to run out of "other people's money"

There has been talk for years about Illinois going bankrupt - I guess they have kicked the can about as far as it can be kicked. Some of the numbers in this article are staggering, eg: currently spending $600 million A MONTH more than they are taking in....

http://www.zerohedge.com/news/2017-0...w-phase-crisis
jerp is online now   Reply With Quote Back To The Top
Old 06-21-2017, 12:42 PM   #2
DapperDan
Ten Point
 
DapperDan's Avatar
 
Join Date: Oct 2012
Location: Tomball Tx
Hunt In: Texas
Default

Glad I don't live there. Sounds like taxes about to go up! Lol


Sent from my iPhone using Tapatalk
DapperDan is offline   Reply With Quote Back To The Top
Old 06-21-2017, 12:49 PM   #3
Landrover
Pope & Young
 
Landrover's Avatar
 
Join Date: Oct 2006
Location: Spring
Hunt In: Wherever & Whenever
Default

Just sad!!!

Sent from my SAMSUNG-SM-G900A using Tapatalk
Landrover is offline   Reply With Quote Back To The Top
Old 06-21-2017, 12:51 PM   #4
J Sweet
Pope & Young
 
J Sweet's Avatar
 
Join Date: May 2015
Location: The Woodlands
Hunt In: Leon/Madsion County
Default

Chi Town baby! Worst part of it all though is you, me and the rest of us will pay to bail them with our tax dollars or more federal debt (same either way) and they will continue to go along spending as they please.
J Sweet is online now   Reply With Quote Back To The Top
Old 06-21-2017, 01:01 PM   #5
Charles
Pope & Young
 
Join Date: Oct 2006
Default

Quote:
Originally Posted by J Sweet View Post
Chi Town baby! Worst part of it all though is you, me and the rest of us will pay to bail them with our tax dollars or more federal debt (same either way) and they will continue to go along spending as they please.
Federal Govt. won't bail them out if Chicago continues to be a sanctuary city. Just my random thought.

It boggles my mind that people think they can continue to spend spend spend without negative consequences. That strategy will only get you so far before something has to give.
Charles is offline   Reply With Quote Back To The Top
Old 06-21-2017, 01:07 PM   #6
flywise
Pope & Young
 
flywise's Avatar
 
Join Date: Oct 2006
Location: Kempner,Tx
Hunt In: Blanco, Nacadoches,NewMexico,Colorado
Default

I hope the unions have to face their members and tell them....its all gone, you better figure out a way to live on nothin.
People will say its not the members fault, well i say horse hock, anyone with any sense at all can tell a Contract is a unrealistic
flywise is offline   Reply With Quote Back To The Top
Old 06-21-2017, 01:44 PM   #7
jerp
Pope & Young
 
jerp's Avatar
 
Join Date: Oct 2006
Location: Aledo
Hunt In: Shackleford Co.
Default

I should have said Illinois is slipping into "insolvency" instead of bankruptcy. Currently, states (unlike cities and counties) can't declare bankruptcy. In a bankruptcy they would just default on all their obligations (bonds and other debt, unfunded pension liabilities) and start over. The court would decide how the assets the state has left would be divided up. This would arguably be preferable - a clean break. It would be very painful for many but it would preclude the temptation for the Federal government to step in with some sort of bailout. However unless Congress changes the laws, Illinois is more likely to just go broke when they lose their ability to borrow - and that is real close to happening. The legislature would then finally be forced to make hard decisions, cutting entire spending programs, to avoid defaulting on bonds and pensions . A lot of hard working folks will get hosed and it will be sad and ugly. This has been brewing a long time but reality has caught up with them.

Last edited by jerp; 06-21-2017 at 02:30 PM..
jerp is online now   Reply With Quote Back To The Top
Old 06-21-2017, 02:05 PM   #8
Livin'2hunt
Eight Point
 
Livin'2hunt's Avatar
 
Join Date: Jul 2008
Hunt In: my birthday suit
Default

Quote:
Originally Posted by DapperDan View Post
Glad I don't live there. Sounds like taxes about to go up! Lol


Sent from my iPhone using Tapatalk
Yep and I'd bet 1/3 of them will end up in Texas and Florida and will bring their bankrupt ideology with them.
Livin'2hunt is offline   Reply With Quote Back To The Top
Old 06-21-2017, 05:13 PM   #9
DapperDan
Ten Point
 
DapperDan's Avatar
 
Join Date: Oct 2012
Location: Tomball Tx
Hunt In: Texas
Default

Quote:
Originally Posted by Livin'2hunt View Post
Yep and I'd bet 1/3 of them will end up in Texas and Florida and will bring their bankrupt ideology with them.


Wooohooo! Just what we freaking need. They will end up in Austin no doubt....


Sent from my iPhone using Tapatalk
DapperDan is offline   Reply With Quote Back To The Top
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 05:45 AM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Copyright 1999-2012, TexasBowhunter.com