Tuesday, May 29, 2012

Illinois --it's all "Greek" to me

No one should shake their heads at Greece and its fiscal troubles--just look at the state of Illinois--

Illinois struggles financially more than year after record income tax hike - chicagotribune.com: "The governor acknowledges the drastic cutbacks are a lot to ask on the heels of a 67 percent increase in the personal income tax rate . . . Republican Sen. Matt Murphy of Palatine put the blame on years of overspending by Democrats who have controlled the Capitol since 2003. Murphy said years of skipped pension payments and expanding Medicaid eligibility dug a budget hole so deep that the tax increase couldn't fill it. "The chickens are coming home to roost," Murphy said. "So now we have very tough, painful decisions to make even after the largest tax increase in state history. And that's frankly because of a lack of fiscal discipline for the last decade in this Capitol.""

Everyone LOVES to spend money--where's the adult supervision?


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