liberal midwest mecca credit downgraded

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glenn1

glenn1

Lifer
Sep 6, 2000
25,383
1,013
126
michal1980 said:
http://wgntv.com/2013/01/26/illinois-credit-rating-downgraded-state-drops-to-worst-in-the-nation/

Illinois now has the worst credit rating in the country.

Chicago - ran by liberals
State - Ran by liberals.

Taxes already raised 50%.

Spending - still out of control.
Click to expand...

Besides Illinois, the other poor credit rating states are CA, AZ, KY, MI, and NJ. This shows while liberals do have a propensity to be lousy with money, places led by Republicans aren't immune either. Personally, I don't see what is the appeal of living in a high-tax, super crowded, frigid cold, and crime-ridden place like Chicago, but evidently millions feel otherwise. No accounting for taste I suppose.
 
J

Jhhnn

IN MEMORIAM
Nov 11, 1999
62,365
14,685
136
glenn1 said:
Besides Illinois, the other poor credit rating states are CA, AZ, KY, MI, and NJ. This shows while liberals do have a propensity to be lousy with money, places led by Republicans aren't immune either. Personally, I don't see what is the appeal of living in a high-tax, super crowded, frigid cold, and crime-ridden place like Chicago, but evidently millions feel otherwise. No accounting for taste I suppose.
Click to expand...

AZ & KY are run by Libs? Who knew?
 
C

cubby1223

Lifer
May 24, 2004
13,518
42
86
The Democrats gerrymandered the districts couple years ago to help them achieve a veto-proof supermajority in the state legislature.

Now that they are in total control of the government, they will fix the problems the state is facing.



Well, now the Dems are just fighting amongst themselves for power, the Senate versus the House versus the Governor... Nothing new. State is as the state was.

I forget who it was in the state house that made comments to the media on Friday that all this downgrade does is hurt the people of the state, basically calling the downgrade an unfair attack against "the people". I just wanted to scream - "It's not the credit rating agency's fault, it's YOUR fault the state is a financial disaster! You had your chance to reform the broken public pension system, saving us from the downgrade, and you all failed miserably..."
 
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G

Greenman

Lifer
Oct 15, 1999
22,190
6,418
136
From the article, "Our problem in Illinois is that we have not substantively and fairly addressed the state public pension issue".
That's the problem most states are going to have, it's also the problem most city's are going to have. The system has failed, the budgets don't work because to much money is given away. A city near me went bankrupt because 80% of their tax base was spent on pensions and medical benefits.
I don't know what the answer is, but I do know what it will be if the core problem isn't addressed, those pension payments will cease.
 
monovillage

monovillage

Diamond Member
Jul 3, 2008
8,444
1
0
ivwshane said:
You do know that the current comptroller and treasurer are both republican right?
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You're about as pathetic as it gets. "the current comptroller and treasurer are Republican"
Really? That's weak sauce even for you. If you had a sense of shame you'd be ashamed for posting something that stupid.

Senate = 40 Democrats and 19 Republicans
House =71 Democrats and 47 Republicans

Gov = Democrat
 
I

Incorruptible

Lifer
Apr 27, 2012
10,086
58
86
cubby1223 said:
You really have no clue how to read effectively...
Click to expand...

What else do you expect from him, He consistently spouts BS and then gets angry when you dont agree with him

monovillage said:
You're about as pathetic as it gets. "the current comptroller and treasurer are Republican"
Really? That's weak sauce even for you. If you had a sense of shame you'd be ashamed for posting something that stupid.

Senate = 40 Democrats and 19 Republicans
House =71 Democrats and 47 Republicans

Gov = Democrat
Click to expand...

Agree, He really is a pathetic partisan hack
Anarchist420 said:
They should've reduced taxes because tax reduction means less for the govt to spend.
Click to expand...

This!!! Taxes MUST be reduced so government has less to spend and waste on idiotic special interests
 
Sonikku

Sonikku

Lifer
Jun 23, 2005
15,898
4,922
136
Pensions were great for luring people away from the private sector, but now that we don't need those people anymore I say we get rid of them. Less government spending. Lower deficits. It's win-win.
 
C

cwjerome

Diamond Member
Sep 30, 2004
4,346
26
81
Incorruptible said:
This!!! Taxes MUST be reduced so government has less to spend and waste on idiotic special interests
Click to expand...

Apparently you and Anarchist were born yesterday, whoever told you government only spends what it collects was lying my friend, and I thought there was plenty of evidence in this world to demonstrate this fact... silly me.
 
Dr. Zaus

Dr. Zaus

Lifer
Oct 16, 2008
11,764
347
126
Jhhnn said:
AZ & KY are run by Libs? Who knew?
Click to expand...

You quote the whole thing; but you only read the first sentence!

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ivwshane

ivwshane

Lifer
May 15, 2000
33,471
16,931
136
monovillage said:
You're about as pathetic as it gets. "the current comptroller and treasurer are Republican"
Really? That's weak sauce even for you. If you had a sense of shame you'd be ashamed for posting something that stupid.

Senate = 40 Democrats and 19 Republicans
House =71 Democrats and 47 Republicans

Gov = Democrat
Click to expand...

Do you know what a comptroller does or what the secretary is responsible for? I have the feeling you have no idea how government works, I'm sure you think spending is controlled by the president as well.
 
ivwshane

ivwshane

Lifer
May 15, 2000
33,471
16,931
136
Incorruptible said:
What else do you expect from him, He consistently spouts BS and then gets angry when you dont agree with him



Agree, He really is a pathetic partisan hack


This!!! Taxes MUST be reduced so government has less to spend and waste on idiotic special interests
Click to expand...

Coming from you, where the opposite of what you say is the reality, I'll take it as a compliment! Thanks!
 
monovillage

monovillage

Diamond Member
Jul 3, 2008
8,444
1
0
ivwshane said:
Do you know what a comptroller does or what the secretary is responsible for? I have the feeling you have no idea how government works, I'm sure you think spending is controlled by the president as well.
Click to expand...

I have the feeling you're grasping at straws as you go under for the 3rd time. Here i'll post it again. Who is it that controls spending again?


Senate = 40 Democrats and 19 Republicans
House =71 Democrats and 47 Republicans

Gov = Democrat
 
M

momeNt

Diamond Member
Jan 26, 2011
9,290
352
126
Anarchist420 said:
Then why do govts even raise taxes?
Click to expand...

Feeble attempt to raise their credit rating because "they are doing something" about the revenue problem. Laughable.

Also state gov'ts operate in a pseudo-fiat currency scheme, when they float bonds they don't have a treasury that guarantees them, they technically are revenue constrained.

Raising taxes in Illinois with "spending cuts to follow" is more laughable than the tollway system being temporary.
 
C

chucky2

Lifer
Dec 9, 1999
10,018
37
91
The results of the spend spend spend super smart <x> guy mentality, but without the ability to print money/get unique loans like the Fed does.

It's like taking what the Left wants, making it reality (IL), and then wondering just why people do not F'ing want more of that Fail.

That said, living here is so entertaining once you can make yourself not care about the future. Laissez les bon temps rouler!
 
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