The great state of Illinois, home of President Obama, was nabbed by the SEC for inflating the value of their bonds. While the state acknowledged guilt, there will be no punishment. My first thought was, Illinois, a Democratic state was given special consideration which would not have been given to Arizona. Then, after pondering it further, I decided the SEC thought anyone dumb enough to buy bonds from Illinois is exempt from government protection. Illinois tried a bond offering and pulled it back. Guess there are not enough fools left to make it work anymore.
A friend of mine is on his local small town fire department commission. He called this week extremely upset. They had a negotiating session with the union. The union wants to add supervisory positions. They want a ratio of 12 supervisors to 18 workers. The board turned it down but it will go to arbitration, and, in Illinois, that means most of what they want will be granted.
The leadership in Illinois is doing nothing as the state sinks deeper and deeper in debt. As businesses leave. As taxpayers in the higher brackets leave. I know of three snowbirds like me who have extended their winter stays and Illinois gets zero income tax and less sales taxes. Illinois is learning we are not indentured servants. We have choices. There will be nothing done until the state hits the wall and becomes the first state to file bankruptcy. Nothing can change. Democrats have run the state forever. They get re- elected to keep doing what they have been doing. Giving lavish pensions to state workers. Giving unions everything they want. Giving Chicago whatever it wants. That all adds up to more than the state can afford. But to stop doing it, or even suggest it be stopped, means that politician is history.
The state is flushing like a huge toilet. No plungers and it’s splling over the side. The entire state is becoming a financial sewage dumping ground without hope.
Watch as Obama brings Illinois to America.
