The Daily Sheeple – by Joshua Krause
For the past 4 months, Illinois has been embroiled in a budget impasse between the state’s Republican governor, and the Democratic legislature. They’ve gone so long without a budget, that they have to pay their lottery winners in IOUs and may have to shorten the length of their school year.
They’re essentially rationing and juggling the finances of their public institutions until the government comes up with a budget. This has resulted in a frightening situation for Illinois’ retirees, since the state has announced that they’re going to hold off on paying their pension department for the near future. According to Comptroller Leslie Munger, Illinois will have to postpone a $560 million payment that was due to the state’s retirees in November, and the system won’t be paid in full until June. Munger told reporters on Wednesday that “this decision is choosing the least of a number of bad options”
However, she wouldn’t go so far as to use scary words like “bankruptcy” “insolvency” or “default,” even though they perfectly describe the financial mess that her state is in. She told the reporters that “for all intents and purposes, we are out of money now.”
Delivered by The Daily Sheeple
Contributed by Joshua Krause of The Daily Sheeple.
Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personalTwitter. Joshua’s website is Strange Danger .
http://www.thedailysheeple.com/illinois-now-has-to-postpone-pension-payments_102015
“We Are out of Money Now”
So, what’s the problem?
Just have the Fed print you some more.
I guess if they can use IOU’s maybe we can start using them too!
Like the IRS, ..Utilities. .Water, power, gas, sewer, insurance, rent.
Like that scene in dumb and dumber. Where’s all the money! That’s as good as money sir. These are IOU’ s. 275 thousand. .might want hang on to that one.
People forget that EVERY City, State, or municipality has millions, if not Billions hidden away out of the public eye.
Check out their Comprehensive Annual Financial Report or CAFR.
There is so much money hidden there, no one needs to pay any taxes for many years.
What is amazing to the few of us in this God forsaken State that have not bought into their BS, people are STILL buying lottery tickets! Yes, enough though it is all over the MSM, print, tv and radio, people are still giving these corrupt criminals money! When interviewed they say they “feel” the odds are better and that they truly believe they will be paid eventually. The stupid, it hurts.
I am so glad I escaped from there 5 years ago
The state legislature is still demoncrap even after Obama hailed from there and has shown to be a destructive commie. The people that are not commie in Illinois need to rid themselves of the socialist commies or move. Their state is as bad as california.