60 Minutes piece last evening on the insolvency of state governments
was an eye-opening experience. But perhaps most worrisome for St. Louisans was learning just how dire the situation is for Illinois, which according to its own comptroller is "a deadbeat state."
In particular, the state of Illinois:
- spends twice as much as it collects in taxes
- has $5 billion in outstanding bills and not enough to pay them
- has tens (and maybe hundreds) of thousands of folks waiting for a check from the state
Some Illinois state legislators have been evicted from their offices because the state didn't pay the rent. Some gas station owners won't serve state troopers who try to fill up using a state credit card. Oucha-muhgoucha!
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