#Pat Quinn

Authored by Mike Shedlock via MishTalk.com, Illinois now has a budget, the first in three fiscal years. An excellent writeup on The Stump entitled Illinois Financial Disaster: Even More Reactions to the Budget explains what passage of the budget does and does not do. Here are some links mentioned

Two days ago when we reported that the Illinois House had voted 72-45 to pass a 32% income tax hike (and a $36 billion spending plan), in an last ditch scramble to provide the state with its first budget in three years (or else suffer the first ever US downgrade to "Junk"), we said that

Authored by Mike Shedlock via MishTalk.com, Yesterday, in response to alleged “progress” on Obamacare I penned Mish’s Rule of Progress. Today, I am pleased to announce even more amazing budget progress in the state of Illinois. First, let’s recap progress at the national level. On Tuesday,

Authored by Mike Shedlock via MishTalk.com, The state of Illinois has not passed a budget for close to three years. Arguably it’s just as well because Illinois budgets for decades have been nothing but a moth-eaten collection of lies, one time deficits repeated endlessly, and financial wizardry

Authored by Kevin Hoffman via RebootIllinois.com, Illinois has been operating without a state budget for two years. In that time, the state’s credit rating has been downgraded eight times, the backlog of unpaid bills has surpassed $14.5 billion, more than 1,500 employees at public universities