The State Of Illinois Is Bankrupt – Dave Kranzler http://bit.ly/1VAAsEO
There seems to be no limit to the amount of relevant news about the U.S. economic and financial system that the mainstream media keeps off the radar screen. I truly believe the technically insolvent status of the country’s fifth largest State is a lot more relevant to our collective lives than is the latest episode of The Jerry Springer Show Trump vs. Rubio vs. Cruz vs. Clinton “reality” TV show.
Illinois sports a $111 billion unfunded State pension, it has $8 billion in unpaid bills, tax revenues are declining, spending is accelerating and it has yet to approve a FY 2017 budget. If this were a private corporation, it would have been taken through bankruptcy court and emerged with new owners at this point.
More http://bit.ly/1VAAsEO
No comments:
Post a Comment