Illiinois facing "outright disaster"

[wehrwd]

Saw this article on the front page of MSN.com and thought it was worth posting here:

Illinois facing fiscal "disaster" (http://www.msnbc.msn.com/id/38072919/ns/business-the_new_york_times)

The headline pretty much says it all. Basically Illinois is in the same spot where California is.

My favorite reader comment on the story was this one:


You know what? I'd like to see a simple law in every state. It would go something like this:

If the state legislature fails to balance the budget, or maintain a surplus, they (each politician) go to jail for 5 years. All of them. Both parties. No exceptions.

I bet their dumb asses would make some decisions then. And if you're worried about how the voters would respond, don't. They can vote them out if they don't like their choices (and the boneheads wouldn't go to jail, they'd just be unemployed).

It doesn't matter whose fault it is, just fix it. That's what you were elected to do--fix problems, not ignore them.

[michaelwise]

Love it.

[specsaregood]

If NJ can balance its budget without any real tax increases these states sure as hell can too. The elected legislatures just need to grow a set and use them.

[torchbearer]

Illinois may be in a bigger hole than cali. they have a smaller tax base.

[1000-points-of-fright]

If the state legislature fails to balance the budget, or maintain a surplus, they (each politician) go to jail for 5 years. All of them. Both parties. No exceptions.

Better yet, any budget shortfall gets taken out of their pay. If that isn't enough to cover it, it comes out of their personal holdings and future income. Wanna bet the budget gets balanced?

[TCE]

Illinois is in a huge hole because Gov. Blagojevich extended Medicare/Medicaid to additional people, allowed Seniors to ride public transportation for free, and promised more pensions without increasing taxes a penny. Now we're screwed. Here is the solution that I keep bringing up to whichever State Legislators I encounter:

1. Cut WAY back on regulations. We can't afford them, and most are completely pointless anyway.

2. Revert pensions and Medicare/Medicaid to 2003 levels.

3. Privatize whatever you can. Colleges, roads, public transportation, everything. This will yield billions in revenue which can pay off the debt. As an added bonus, we will become a more free market state. By privatizing the tollways (as was already done with the Chicago Skyway), the state will spend less in roadwork as well.

4. Lower the minimum wage to Federal Levels. Seriously, we are $1.00 more per hour over the national standards, cut it back and unemployment will go down.

If all of these things are done, Illinois won't have a debt problem.


Illinois may be in a bigger hole than cali. they have a smaller tax base.

Illinois is fine, the Democratic Legislature will happily continue to raise taxes. Right after this election, we are expecting a couple percent tax increase. A 1% is being floated, but it will probably be raised to 2 or 3%.

[someperson]

Better yet, any budget shortfall gets taken out of their pay. If that isn't enough to cover it, it comes out of their personal holdings and future income. Wanna bet the budget gets balanced?
This might be better; at least, then, the individuals in that state wouldn't need to subsidize their accommodations and three square meals a day in prison.