Triple Lutz Report #422 – Illinois on the Fast Track to Bankruptcy

from Financial Survival Network

Illinois has over 63,000 government workers (an oxymoron) making over 100k per year or more. This is a prescription for disaster. And they’re going to receive pensions based upon these bloated salaries. Something has to give. The courts won’t let them cut the pensions without a constitutional amendment. What’s a taxpayer to do? Move out, and more and more of them are doing exactly that. Especially after the 1/3 tax increase that was just passed over the governor’s veto.

New Orleans has flooded again. No Cat 4 hurricane this time, just good old fashioned torrential rains. The city’s 24 pumping stations just can’t keep up with it. Very reassuring when you consider they’re only 1 hurricane away from another Katrina type event. I thought the billions in tax dollars were supposed to stop a repeat performance.

Time to stop subsidizing Elan Musk and the Tesla Car Company. The average Model X buyer makes over 500k and the average Model S purchaser is good for over 250k. Is that where we want our tax dollars going?

And finally, LA County spent over $1.3 billion on welfare for illegal aliens! California spent over $25 billion in 2013 and you can be sure the total is much higher now. Is this any way to run a state? Heading for insolvency just like the rest.

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