Republican Bruce Rauner, had some choice words for the press and his fellow legislative colleagues in the sixth month of 2017 as their two year discussions on the ever spiraling debt budget crisis came to another screeching deadlock. “We’re like a banana republic,” Gov. Rauner lamented, according to Fox News, after the state lawmaker’s legislative deadline passed. “We can’t manage our money.”
No kidding. Barron’s reports that Susana Mendoza, the Illinois State Comptroller has called this predicament a “state of crisis,” partly due to “spending obligations [that] have exceeded receipts by an average of $600 million per month” for at least twelve months. Right now, the state is in debt to a variety of transit companies, social service agencies and other providers to the tune of $15 billion. Some vendors have sued the state to get their money, according to Zerohedge.com. Adding to the pressure of who or what to pay first, has been decisions made by the courts, which have already ruled that state workers must receive their due, as well as anyone who happened to hit it big in the Illinois Lottery, as those payments have also been on hold.
If a regular person misses a single credit card payment, you can bet that irrespective of the hardship that caused the problem, the individual is going to be hit with fees and outrageous interest rate increases. This same unfair usury practices also are borne by the $15 billion in debt owed by the state of Illinois. The Chicago Tribune reports $57 million has already been paid for some “interest on overdue bills.” That figure doesn’t include another $370 million in interest owed on unpaid bills to the Illinois healthcare system which, as an entity, is also owed another $4 billion for services rendered. Yet all of these missed payments and increased interest rate penalties are nothing compared to what the state of Illinois owes to the pension funds of state workers. According to Chicagobusiness.com, the unfunded liabilities of all of past, present and future retires has ballooned to $119 billion, or about “$10,000 for each man, woman and child in the state.”
That $119 billion is owed to “660 government pension funds,” reports CBS news, many of which are enrolled in defined benefit plans that “promise workers will receive a specific benefit when they retire.” The state workers that could be drastically affected are the core of society: firemen, police, teachers, social and health care workers along with all other state employees. Unlike the city of Detroit, states are not allowed by law to file bankruptcy and
Illinois is about to declare a state of bankruptcy and seize all state pension funds, just as the Health Ranger re… https://t.co/zTH83Cw4XM
— News Blok (@newsbloktwit) June 26, 2017
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I remember when that came out. I saw it on TV.
I just watched the original 1975 ROLLERBALL with James Caan. It is frightening how accurate the under-rated movie is describing a future run by CORPORATIONS.
I do not know if AMERICA will be able to view link
http://putlocker.ac/watch-rollerball-online-free-1975-putlocker.htm...;
The TSA is about to seize everyone's ball, and do it on the street corner.
"Destroying the New World Order"
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