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How many more states will go under? What about yours?


Illinois Stops Paying Its Bills, but Can’t Stop Digging Hole

CHICAGO — Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo. He picks the papers off his desk and points to a figure in red: $5.01 billion.

“This is what the state owes right now to schools, rehabilitation centers, child care, the state university — and it’s getting worse every single day,” he says in his downtown office.

Mr. Hynes shakes his head. “This is not some esoteric budget issue; we are not paying bills for absolutely essential services,” he says. “That is obscene.”

 
MunchMunch

Asked by MunchMunch at 10:19 AM on Jul. 4, 2010 in Politics & Current Events

Level 14 (1,786 Credits)
This question is closed.
Answers (21)
  • Milfalicious, it appears he is saying they don't even have the money to pay for essential services, like schools. Their budget is that far gone.

    Interesting, I wonder which states will fail. We have CA and IL, why are they failing quicker than poorer states? I have a good idea, but I'd be interested in other opinions.
    mancosmomma

    Answer by mancosmomma at 11:28 AM on Jul. 4, 2010

  • Social justice=communism=taking money from people who work hard for it and giving it to people who didn't earn it.

    NY is broke too.
    miriamz

    Answer by miriamz at 11:36 AM on Jul. 4, 2010

  • Our republican governor Mitch Daniels saw this coming and cut spending & cut waste in our government before it happened, So Indiana is doing better then all the states around us.


    .

    Natesmom507

    Answer by Natesmom507 at 3:48 PM on Jul. 4, 2010

  • I think that in general,

    Republicans are NOT " just as guilty of over spending as well".

    Democrats are known as "Tax and spend " type people for a reason!
    mustbeGRACE

    Answer by mustbeGRACE at 5:38 AM on Jul. 5, 2010

  • Interesting, I wonder which states will fail. We have CA and IL, why are they failing quicker than poorer states? I have a good idea, but I'd be interested in other opinions.

    Same reason as Michigan is failing. Liberal states.
    Carpy

    Answer by Carpy at 11:45 AM on Jul. 4, 2010

  • why are they failing quicker than poorer states?

    TBF, IL has to spend a MUCH larger portion of it's annual budget on the prosecution of its elected officials. I'm nearly 40 and I honestly can't remember a time when there wasn't somebody either under investigation of in the midst of prosecution.
    NotPanicking

    Answer by NotPanicking at 1:36 PM on Jul. 4, 2010

  • Arizona, Rhode Island, Michigan, Oregon, Nevada, Florida, New Jersey and Wisconsin

    The funny thing there is that doesn't match up with where the worst of the unemployment is. Michigan does - but Michigan has had serious issues that long pre-date this recession. The nightly news has been about Michigan's budget problems for years - even when the rest of the country was thriving. Nevada overextended itself in the housing boom and people in the industry saw that crash coming back in the 90's - too many people were flocking there for non-permanent work for over a decade. The rest of them, it's internal government issues that have put them at risk, not just "the economy." Unemployment and foreclosures are bad everywhere, and far worse in a lot of states not on that list.
    NotPanicking

    Answer by NotPanicking at 2:26 PM on Jul. 4, 2010

  • Michigan isn't to well either.
    Carpy

    Answer by Carpy at 11:18 AM on Jul. 4, 2010

  • You ever wonder who is going to bail out these states? I have an answer. ALL the other states that showed fiscal responsibility and restrained spending. All the Americans who showed fiscal responsibility. You saved and invested, your investments will be taxed more. You built up a decent retirement with some padding for emergencies? Better spend it all before you die, because the government will take half of what's left. You worked hard at your education and later your job in order to live well? Expect the government to take more and more.
    mancosmomma

    Answer by mancosmomma at 11:47 AM on Jul. 4, 2010

  • Thank goodness I live in TX. Of course now we have the government asolutely TRYING bring us down. Really disheartening and it just pisses me off. We have a small deficit in one sector but we still have an emergency fund we can use if absolutely necessary. This government is not trying to help any state and that would be fine if they were not so much trying to hurt them. Nothing being done is helping and everything is hurting. The pensions mentioned are a huge problem for many states and they will have no choice but to cut them. Many states have governors coming up for re election in Nov and I think your choice for governor will be very important. Do your research and vote for who will help in the ways your state needs it. It's going to be hard but now... there is no choice
    itsmesteph11

    Answer by itsmesteph11 at 11:59 AM on Jul. 4, 2010

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