Category: Illinois

Poster child for what not to do: Part 2, borrow our way out of it?

20 July, 2010 (15:24) | Bankruptcy, Budgets, Finance, Illinois, Infrastructure, States, Taxes, US News |

[Continued from yesterday's Part 1.]   By: David A. Smith   As we saw yesterday, Illinois is up the financial creek.   Maybe I should have turned at the ‘shit creek’ sign?   The state’s functional insolvency – statistics given in the New York Times article we are using as text — is being pressed [...]

Poster child for what not to do: Part 1, making California look honest

19 July, 2010 (16:06) | Bankruptcy, Budgets, Finance, Illinois, Infrastructure, States, Taxes, US News |

By: David A. Smith   How’s this for a state motto:   “Making California look penurious and honest”   Do I look penurious and honest?   That’s the money quote buried in a New York Times article about the only state whose finances are in even worse shape than the once-Golden State’s:   “We make [...]