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    Illinois going bankrupt

    What are the anticipated consequences of the state collapsing financially?
    I hope thry do to be honest. The unions and democrats NEED to feel the pain of unrealistic contracts that allow themselves to live high on the hog at tax payer expense.
    I just dont want to pay for them to get their act together

    #2
    Bail out at tax payer expense. Continue business as usual.

    Comment


      #3
      Originally posted by Neck View Post
      Bail out at tax payer expense. Continue business as usual.
      If this most recent landslide election isn't powerful enough to stop that jack booted action, nothing will do it. Personally, I believe you are correct. Nearly all of our representatives are spineless and cowards. I wish I could report differently.

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        #4
        Originally posted by Neck View Post
        Bail out at tax payer expense. Continue business as usual.
        I don't see why the fed can't dictate terms of a bailout. Demand they dump all their insane pension plans, and the addition of a state constitutional amendment that their budget must be balanced, and then you get a bailout. Which will have to be paid back in full plus interest equivalent to inflation (if the fed is feeling nice).

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          #5
          Shocking. Considering the Godfather runs their largest city.
          Last edited by ACCURACYINC; 06-21-2017, 02:16 PM. Reason: ...

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            #6
            Originally posted by sir shovelhands View Post
            I don't see why the fed can't dictate terms of a bailout. Demand they dump all their insane pension plans, and the addition of a state constitutional amendment that their budget must be balanced, and then you get a bailout. Which will have to be paid back in full plus interest equivalent to inflation (if the fed is feeling nice).
            Exactly what needs to happen, which means its very likely not going to happen.

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              #7
              Illinois is a blue state. They will suffer the consequences!


              Sent from my iPhone using Tapatalk

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                #8
                Originally posted by flywise View Post
                Exactly what needs to happen, which means its very likely not going to happen.
                Agreed.

                Comment


                  #9
                  Originally posted by ACCURACYINC View Post
                  Shocking. Considering the Godfather runs their largest city.
                  I hope he has to burn his desk to stay warm this winter.

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                    #10
                    Originally posted by sir shovelhands View Post
                    I don't see why the fed can't dictate terms of a bailout. Demand they dump all their insane pension plans, and the addition of a state constitutional amendment that their budget must be balanced, and then you get a bailout. Which will have to be paid back in full plus interest equivalent to inflation (if the fed is feeling nice).
                    I am not for any bailout whatsoever. The hard road of digging yourself out from the self created problem is what they need.

                    Sent from my VS987 using Tapatalk

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                      #11
                      Pensions are a tough one. Those of you advocating for "dumping all their insane pension plans" are really saying that they should take back the money they've promised to working people. If I work in a system where they take a chunk out of my paycheck per month with the promise that I'll get paid when I retire, they ought to uphold their end of the bargain. Maybe it was a dumb bargain, and the terms need to change for those going forward, but it's nearly theft to go backward and un-do the promises.

                      That said, should you be in a plan with a guaranteed payout if you work at a city park mowing grass, or if you check water meters all day? Nope, but that was the deal. Change the terms going forward.

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                        #12
                        Sucks but that's what it is. Lock up the politicians for borrowing against the pension funds (stealing) and bankrupting it. If Joe Blow breaks into my home and steals my life savings out of my safe and spends it all on crack before the cops get him how much of a bail out am I going to get? We bail them out they continue to do the same thing.

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                          #13
                          Social Security is next in line

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                            #14
                            Well...they raised the personal income tax 32% & biz 7% to fix their problem.

                            They just don't get it. Folks & biz are gonna flee the state.

                            Comment


                              #15
                              Originally posted by Artos View Post
                              Well...they raised the personal income tax 32% & biz 7% to fix their problem.

                              They just don't get it. Folks & biz are gonna flee the state.
                              Dems ALWAYS spend more than they take in and NEVER make real sacrifices (cuts in spending) they will raise the taxes, recieve the money, then create another way to spend it and very doubtful any of it is spent on bringing down their debt.

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