Illinois, California going bankrupt
 

This is what happens when you put democrats and unions in charge. The Dimwits buy votes from unions and minorities with welfare and defined benefit pensions and then try to tax the middle class into oblivion. Then they go bankrupt.

Mike Madigan is the problem in Illinois. Absolute POS...

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Illinois is in a world of hurt. Their public union pension plan is the largest unfunded in the country and their problems primarily stem from political corruption. Whereas California's primarily problem has to do with unstable politicians who appear to believe they live in the land of OZ .

Personal Best Regards:

California is in its eighth year of recovery which includes budget surpluses. The Illinois governor is a Republican.

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Yeah, California is in great shape fiscally.:1rotfl:

State of California Debt Clock

Not any more...

california economy deficit - Google Search

The last two...since 2003 were Ds. They did the damage.

I am a retired State of Illinois employee. It was evident 40 years ago that the Chicago political machines were diverting money from our retirement system. Stole might be a better word. I continued to pay my 7% into the retirement fund while the politicians gave us an IOU for their 7%. When their 7% became not enough, they gave us an IOU for the 7% I contributed. They robbed Peter to pay Paul, now Peter says enough, I want my money !!!!

And of course Detroit, Michigan is their crown jewel !

Not so
 

With all due respect, I am from Illinois and very familiar with Illinois government and Illinois "Problems" has nothing to do with unions and both Republicans and Democracts are about equal when it came to spending more money than the State has coming in. Both parties "Kicked The can down the road" and took pension money to fund programs in order to be reelected. I personally worked 30 years under Republican Governors. You would be hard pressed to put all the blame on Democracts.

Finally, under current Federal Law a State CANNOT file bankruptcy. :popcorn:

basically, illinois is presently bankrupt.

Basically...the United States is presently bankrupt.

I agree democrat and republican contributed to this problem and an equal number in Illinois have gone to jail.. and that is why I used the term political corruption.

Perhaps a state cannot file for bankruptcy? However it doesn't stop a state from going bankrupt .

There is only one way to stop a politician from being a spendthrift and that is deny politicians tax money so they learn to live within this country's/state needs

Personal Best Regards: