-By Warner Todd Huston
Illinois is broke. So broke it can’t pay its bills. Yet on it goes stiffing its creditors and it’s making me wonder why I bother to pay my bills at all. If the state can get away with thumbing its nose at its bill collectors, why can’t I? Oh, yeah. I’m not a Democrat. Unlike them, I’m expected to pay my bills. I forgot for a moment there. Oh, and I’m not a union member, either.
According to the Times story Illinois owes its schools, rehab centers, and childcare obligations $5.01 billion. And there’s no payment in sight.
Then there is the state employees pension plan that is underfunded by 50 percent.
Also, as the state legislature left the Capitol last month for its summer break there was no budget settled upon.
Continue reading “
Illinois Has Stopped Paying Its Bills”