...under "They Just Don't Get It."
I don't live in Illinois (in fact, I'm not so sure its not 'Illinoise'), but I do know some farmers in southern Illinois. I'm sure this makes sense to them?
* Illinois faces a budget deficit that could hit $15 billion this year
(That means they will spend $15 billion more than they have)
* The Illinois State Legislature voted to begin to fix the problem - they raised personal income tax from 3% to 5%
('Sorry folks, our bad...you pay')
* They also voted to limit spending growth to 2%
(Not to cut spending, but to limit its growth...OBTW - Social Security benefits to retirees (and others receiving benefits) were NOT increased in 2010 because there was no increase in the Consumer Price Index (which is the 'cost of things' or 'inflation') - so why do you have to increase spending?)
The Associated Press reported:
"...Democrats bristled at the idea that they are to blame for the state's financial problems, although they've controlled the governor's office and both legislative chambers since 2003."
Democrats have controlled for 8 years...but the budget deficit is not their fault.
"...The proposal passed the House on Tuesday night by a vote of 60-57, the bare minimum. No Republicans backed the measure there or in the Senate, where the measure passed 30-29..."
Not a single Republican voted for this.
"...The governor has refused to discuss the tax proposal publicly, although his aides say he supports it. During his election campaign, Quinn promised to veto any tax plan that was higher than his proposal for a 1-point increase..."
The Governor refused to comment on his failure to live up to his campaign PROMISE to veto this.
"This is the nuclear bomb of jobs bills," said Sen. Dan Duffy, R-Lake Barrington.
Clearly, this vitriol will lead North Korea or Iran to drop the bomb, hasn't Duffy been paying attention to anything?
...too many government entities overspend because of their ability to borrow money in the form of bonds, steal money in the form of taxes - and bank on the fact that the economy will turn around and all of this will be moot. However - with the housing, financial, etc. situation - the economy is having trouble turning around, and their mid-range projections aren't going to work.
We heard it during the 2010 campaign - What would happen to you if you ran your personal business like this? Bankrupcy. What would happen to you if you ran your business like this? Criminal Charges (lying to creditors/auditors) What would happen to you if you ran a government like this? Re-election.
If I was a betting man, I'd think there might be something forthcoming from the Federal government to balance the imbalance -- and maybe a little kicker for trickle-down graft. It's something that the Chief Executive understands well.
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