So, which state goes bankrupt first?

While perusing the innerwebtubes, I found a story regarding the financial situation of the State of Illinois. It isn’t good.

According to the Comptroller, Dan Hynes, The State of Illinois’ pile of unpaid bills has grown to a record-breaking $3 billion.

Comptroller Hynes said Tuesday it’s never before been this bad at this point in any previous fiscal year. Hynes said that things are likely to get worse before the state’s bleak revenue picture begins to improve.

Oops!

I don’t live in that state and I think I drove through it once…very fast. Illinois appears to be in even worse shape then California. So, who isn’t getting paid for services rendered?

CBS 2 Political Editor Mike Flannery reports that some social service agencies that rely heavily on state reimbursement warn they will soon be forced out of business.

Other states with major financial problems include California, New york, New Jersey, and Maryland to name a few. What do these states all have in common? Could it possibly be that they are high tax, big spending liberal states? Why I think it IS possible!

So, what’s going to happen to all these creditors?

Dr. Norman James said he does not have enough cash to pay his 250 employees this Friday. He said he may have to close the doors, leaving more than 450 clients without the support they need to stay in their own homes and out of expensive nursing homes.

*sigh*

There isn’t much anyone can do in a situation like this. There just isn’t any more money for the State Politicians to loot from the taxpayers. Soak the rich? Well congratulations! You’ve soaked them so much they’ve either drowned or taken to the life boats and headed for “drier climates.”

The comptroller reported corporate income tax receipts down $77 million for July through September; sales tax receipts, down $244 million; personal income tax receipts, down $251 million.

That’s because people have no jobs and are broke. Why aren’t there any jobs? Simple really. Progressive/Liberal politicians who don’t have a clue working with Union thugs have looted the treasury, taxed and regulated business and basically destroyed the economy of the state.

Evelyn Gonzalez, a Family Home Service supervisor, said she can’t afford to miss a pay check.

“It’s nerve-wracking. Because I have bills to pay just like everybody else,” Gonzalez said.

Another supervisor, Debra Estrada, is a single mom with two young children. Without a pay check, she said, “I can’t pay my rent, I can’t buy groceries to feed my children. The state does not realize what’s happening to us, the little people. Seriously.”

Similar fears haunt tens of thousands at social service agencies all across Illinois.

We’re hopeful this can be taken care of, but these problems are structural. The political will to make the required changes just isn’t there.

“A Chicago Meals on Wheels and nutrition center can’t purchase food and is facing eviction,” Hynes said. “A large Lake County disabled program can’t make insurance or mortgage payments.”

Hynes said he’s now getting 2,600 calls a week from creditors desperate to be paid by the state.

I’m sure Mr. Hynes would love to pay all the bills, but he can’t spend a dime unless the state legislature raises the funds and gives him the authorization to pay the creditors.

While the General Assembly is scheduled to reconvene next week in Springfield, no one’s even pretending to offer a comprehensive solution to the unprecedented budget disaster. Democrats and Republicans, the governor and legislative leaders all insist that must wait until next year.

LALALALALALA We can’t hear you! Pass the caviar please. We’re busy with important government matters like forcing Health care workers into a union they don’t want to be a part of.

Yeah, a couple of phrases spring to mind.

1. Let them eat cake!
2. Fiddling while Rome Burns

We are seeing the beginnings of the end of the United States. We have close to 20% unemployment/underemployment now and it’s going to get a LOT worse. I’m afraid that all those businesses that expect to be paid by deadbeat state governments are waiting in vain.

We are now beginning to see the cascade effect of economics. To quote Margaret Thatcher, former Prime Minister of Great Britain,

“The problem with socialism is that you eventually run out of other people’s money.”

It looks like Illinois and the other left wing states have just reached that point. They have spent all the money other people have and the well has gone dry.

We are now beginning to see this happening on the federal level as well with the trillions of dollars in debt this administration, and lets be honest, the previous administrations going back to FDR have run up.

We are in for a very bad time if we can’t get the clowns in office to actually do their jobs for once and stop thinking about themselves.

Yeah, like THAT’S going to happen any time soon!

~The Angry Webmaster~

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