to Democrats: The public won't be outraged if Illinois government shuts down.

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    Jun 10, 2015 3:23 PM GMT
  • bobbobbob

    Posts: 2812

    Jun 10, 2015 6:53 PM GMT

    Good article!

    ❝Last year, the state found out that it had paid more than $12 million on Medicaid services for people who were dead. In some cases, it took the state more than 30 years to figure out that the money had been misspent. State government then had to spend even more time and resources trying to recoup the money it should have never spent in the first place.❞

    That made me look up more on their state finances. Blowing 12 million is pocket change in comparison to the big picture of government waste in Illinois.
  • Svnw688

    Posts: 3350

    Jun 10, 2015 7:21 PM GMT
    I'd rather be poor in Chicago than wealthy in Phoenix


    The budget crisis is serious, but not like the city will (or could) be liquidated and sold at auction. Pensions are typically funded at a 75 to 80% level. Illinois currently funds at a 50 to 55% level. That's not THAT underfunded. There's still time to pour money into the fund. And if it doesn't happen, then the payees will take a haircut (though there's an Illinois constitutional argument against that) OR other city services (read schools, construction, and city services) will take a haircut.

    Trash will be collected half as often. Classrooms will go from 15 students to 25. Highway lights will be shut off to save money. Etc.

    By no means is this crisis inevitable, nor will the sky fall on Chicago. Illinois cannot go bankrupt and you go and purchase the land. It doesn't work like that.