Jane the Actuary
It. Just. Won’t. Work.
View all posts by Jane the Actuary
Excellent commentary. I would add this. The political will and follow through to make sure states follow through on any guarantees won’t last one election cycle. Like you also suggest Illinois lawmakers will do what they have always done . Find loopholes work the system to their benefit, kick the can, pass the buck.
McConell’s call for allowing states to file for bankruptcy is a non-starter as well. Even if allowed Illinois is nowhere near as desperate or broke as Detroit was in 2009.. So for Illinois to get there will take years more of bad management. Not saying we won’t get it . We probably will it will just take a long time for Illinois to get there.
So what will Illinois future be. Well more of the same really. Higher taxes and debt. Continued negative population growth. More private sector jobs leaving the State and along with them people who might have worked them.
Based on Illinois recent election patterns you would be foolish or wildly optimistic to suggest Illinois is about to change it’s path anytime soon. Wish I could up with a better future for Illinois but there isn’t one.
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