Illinois closer to financial disaster - Grand where?

http://www.valuewalk.com/2017/07/illinois-bankruptcy/

As Illinois continues to run continuing deficits as it operates without a budget, a recent court ruling plunges the already financial weakened state into financial oblivion. Illinois has entered its fifth straight year without a budget and Law makers within the state are no closer to reaching a workable resolution bring the unthinkable of a once unthinkable Illinois bankruptcy closer. This has brought the financially ailing state on the cusp of obtaining the disreputable honor of being the first state in the union to receive a Junk rating.

As Friday drew to a close, Illinois law makers failed to come to a resolution regarding the budget.
The state has been without a budget since mid-2015. The 5th most populous state in the U.S now faces the real possibility of obtaining a junk status rating as credit agency S&P warned almost one month ago. The reaction has been apt, according to news reports from Bloomberg, Illinois House Speaker Michael Madigan went to task on Friday in attempt to dissuade credit ratings from adjusting their ratings for the distressed state. She pleaded that the rating companies should withhold judgment until the lawmakers could come to decision.

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Do you think the precious WSRC is high on the budget list for this year and next year?

Did the SCTP make the right move?

How about the ATA's decision to maintain the fantastic direction?

 

Golden,

I hate to think this but perhaps that is where the missing items are going..

Assets Being sold off to keep the place afloat.

Can't think of any other good excuse for their missing, and being hushed up.

 

If assets are being sold it is not to keep the place afloat. It is because of theft. By who we do not know, my guess it is state employees, and their bosses. I was in business for 50+ years and my observations were, 90% of thefts were by management. Roger C.

 

The State of Illinois proposed a 5 billion (BILLION) dollar tax increase, Governor Rauner is probably going to Veto that but you never know, you know ..? Madigan is not going to budge or give an inch so the battle will most likely continue for some time as the residents keep getting hosed by the democrats in charge in the State of Illinois ... There will be no as in NONE money to be had for repairs much less improvements to any of the State parks which includes the WSRC in Sparta, Ill ... If someone or a bunch or people with deep pockets does not pay the way or the ATA does not pick up the tab, the WSRC is in deep, deep chit ... This only adds to the distraction of drawing shooters to what was once the worlds biggest and best trapshooting championships, that was then, this is now ... The ED, EC, and a few of the select BOD in the mean time will keep on milking the ATA Cash Cow for all they can get ... The total amount of things stolen, sold, or removed would not make a dent in the financial distress the State of Illinois is facing or the expenses it takes to keep the WSRC above water ... If Mayor Daily was still alive , he would probably get a bunch of bulldozers and bury the State or use the land to expand Lake Michigan ... Kool aid and rose colored glasses stands are popping up all over in Sparta or maybe that's just a rumor ... Dumb and Dumber will be the entertainment this year ... WPT ... (YAC) ...

 

Meanwhile the kool aid site debates 7 1/2's or 8's. The real question is will the ATA follow Illinois into junk status? Brad

 

This is the only site I go on or to so I cannot and will not comment on anything other than this site except in passing ... The State of Illinois is being bashed, tarred and feathered, and ripped from a- - hole to elbows on FB as well as its own site, only hope all that you hear about stuff on the internet not being accurate is true, but at some point someone has to at least give it a look, see and take into consideration this is Illinois we are talking about here ... Shooting ranges on the streets open 24/7 for your shooting enjoyment ... Up town/Rogers Park area is getting to be as bad as Washington D.C. for crying out loud ... Good thing they have strict gun laws in Illinois or you could get killed there ... WPT ... (YAC) ...

Amazon has Rose Colored glasses on sale, if any one is interested ...

 

a budget was passed, and vetoed, and is halfway through a veto override. The budget gets passed by override in the next few days, and the cash will flow. Things will be back to normal in Illinois, meaning the state will continue towards being bankrupt somewhere between a few more years and a few more decades, but not this year or next.

 

There is not a veto override yet. The taxes would have to be substantial. A veto override could be political suicide for any repub that votes for it. jmho

 

I was told that the State is going to discontinue the Illinois State Lottery because they cannot make the pay outs to the winners ... I'm not sure but think it was on Face Book or one of the Illinois web sites and it was posted by someone or one of the watchers, honestly do not recall ... WPT ... (YAC) ...

 

15 Republicans voted for the tax hike going against the governor. It passed the first time with enough votes to override. It would be political suicide to vote for it then vote against it. Some defectors claimed they couldn't let the state suffer any more and didn't care if they weren't reelected. Others were representing college districts decimated by the budget stalemate.

Lotteries were suspended because the state wouldn't be able to pay winners without a budget, they might be reinstated

 

If the media is correct, the budget has passed. Just not sure what it will cover.

 

No vote yet.

 

It has been done. Moody's is reviewing IL for a downgrade anyway. Something about not addressing the causes of the financial crisis and just raising taxes.

 

Business as usual in the State of Corruption (Illinois) ... WPT ... (YAC) ...