The state of Illinois is just about officially destroyed after decades of Democrats “leadership” running an otherwise perfectly good state into the ground, and it’s easy to see why after how the state’s Democrats are acting as it teeters on the brink of bankruptcy.
According to Mike Shedlock at MishTalk.com, the state’s governor was forced to call an emergency legislative sessions for lawmakers to come together and figure out a budget so the state didn’t get its credit rating lowered to “junk” status. While legislators have convened daily to try to figure out the mess – at a cost of $50,000 a day to the taxpayer – they have yet to come up with a solution.
However, there is something they have been able to do, and let me tell you, it seems like a massive priority, given the current state of the state. /sarc
Shedlock explains below:
Progress Illinois Style
Illinois has been without a budget for two years and its bonds, already the lowest in the nation, face a downgrade to junk.
On June 15, Illinois Governor Bruce Rauner called a special 10-Day legislative session to finalize a budget.
We are now in the eighth day of the special session.
The special sessions have lasted from 10 to 23 minutes at the longest.
Progress was announced yesterday: My sources tell me that by an 84-0 vote, part of I-55 will be renamed the Obama Expressway.
Did you catch that last part? Yes, they seriously made renaming a section of highway after Obama, of all people, a priority as the state is about to go belly up.
Not only is doing so going to come at a cost for the taxpayers, who are already on the hook for untold amounts of money because Democrats don’t understand basic math, but it just goes to show you that even in the most serious of times these people don’t take their jobs seriously.
To make matters worse, the legislature is due to come up with a budget by Friday or the state’s rating will be downgraded to “junk,” so Democrats in the legislature came up with a wish list in order to play ball, and none of it does anything to help the state fix its current mess.
Again from Shedlock:
Rauner Already Caved In
An even more amazing part of this reconciliation process is that Rauner has already caved in. On June 21, I commented Governor Rauner Screws Illinois.
In exchange for virtually nothing, the Governor agreed to a massive tax hike.
- Four-year tax hike to 4.95%, up from 3.75%
- Expansion of sales taxes
- New taxes on cable and satellite TV
- Four-year property tax freeze
- No right-to-work reform
- No collective bargaining reform
- No pension reform
- No workers’ compensation reform
- No spending cuts
- No term limits
- No gerrymandering reform
The alleged property tax freeze is only 4 years and it excludes Chicago, home rule districts, cities in trouble, etc. One can drive a truck trough the loopholes.
Yet, that was not enough for Madigan or the special session would not still be in session.
This is absolute madness, folks; however, it’s not a surprise, honestly. Everywhere Democrats have been in charge for a long period of time has had similar things happen – high taxes, out of control spending, and outrageous entitlements – yet they keep doing the same things and hoping something different is going to happen.
As Einstein said, that’s the definition of insanity.