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Wednesday, January 11, 2012

How Low Can Illinois Go? Bond Rating Gets Downgraded to Worst in America



Illinois' bond ratings was downgraded by Moody's, making it the WORST in America.

You can thank a lot of people for the crisis, ranging from the Madigan(s) to public pension ponzi schemes to wild spending and irresponsible fiscal policy, but the bottom line is the TAXPAYER will suffer even more as a result due to increased costs for borrowing.

Illinois Treasurer Dan Rutherford, who warned this would happen unless the state got its fiscal house in order, helps explain the situation in the video above and why it matters.

So, how low can Illinois go?  With the state sinking in debt, corruption, taxes, fees, the chronic mistakes of the political mafia, it may be time for a new state song that more accurately reflects the State of Illinois with help from a song by Ludacris performed by Alvin and the Chipmunks:


15 comments:

Al Kohollick said...
This comment has been removed by the author.
Al Kohollick said...

Why did Illinois taxpayers pay for Jeese Jackson's trip to a South Africa convention recently? Gov. Quinn WTF were you thinking?

Anonymous said...

I'm really sorry and disappointed to see Alvin and Chipmunks go to a "Urban/Hip-Hop" style of music/marketing. I thought they were best presented and heard as "preppy types". Are they being managed by Suge Knight and Death Row Records?

Anonymous said...

The song is perfect for Illinois.

Anonymous said...

Illinois has become toxic for doing business and cost of living.

If you continue to live in Illinois, you have only one option, which is to remove the political mafia that has created the mess.

Anonymous said...

Ha, ha, ha to all you fun loving DEMOCRATS that enjoy electing these crooks year after year that love to tax and spend and give your dollars to the crooks and undeserving. Keep up the good job and vote the way your great, great grandfather, grandfather and father voted because YOU are to stupid to think for yourself. Keep overpaying your EVIL UNION TEACHERS, COPS, FIREMEN, and othere useless beaureaucrats. You are getting what you deserve. For me I got out of CORRUPT ILLINOIS five years ago.

Anonymous said...

Top 10 states that can't pay their bills all run by DEMOCRATs! WIth the exception of AZ.

Anonymous said...

7:19, if you moved why do you waste your time looking at a blog from Aurora? Move on son!

Anonymous said...

Some people just love to gloat over the misfortunes of others. He sounds like a republican. I hope they don't all feel that way.

Anonymous said...

Yes I am a Republican and yes I love to gloat over the misfortunes of others when it is brought on by their own stupidity.

Anonymous said...

That explains why you can't move on with your life wherever you moved to. The need to gloat over someone else's misfortune, no matter what the cause, says all we need to know about you.

Anonymous said...

7:19 Aurora is all the better for your leaving - good riddance to bad trash - now go back to surfing porn site.

Anonymous said...

Illinois could rcoup part of the overspending by making it a law that anyone receiving a pension from public employment pay a 10% fee on it if the monies went to an out of state address or bank account. Naturally this wouldn't be a tax but a fee. They could even set up another beaureaucratic program to watchdog it thereby helping with the unemmployment situation. How much more democratic can you get than that?

Anonymous said...

I like it!

Anonymous said...

Actually, I think they should just change the law in Illinois to remove the exemption from state income tax that all retirement benefits enjoy. If it's taxable income to the feds, it should be taxable to the state. That includes government pensions, private pension accounts, and social security. These are all items that aren't taxed in Illinois -- but are in other states.