Could IL be the first state since the Depression to go bankrupt?

[Yuptag]

States are sovereign entities. They just don't pay their bills and move on as long as the repayment was not stipulated to come from a specific funding source - tolls, business tax revenue from a particular assessment etc. as opposed to general obligations.

If a state can actually live within its means and not need credit, it's golden and the whole non-repayment is a non-event.

Of course, since politicians love to hand out other people's money to get elected (looking at you Dems), living within the means is not possible . . . everyone in the Land of Lincoln should run around like-stark raving lunatic - especially, the middle class that will get pummeled.

[Taco1234]

Official warns Illinois finances in ‘massive crisis mode’ | The Seattle Times

Laughing stock of the country.

[terramama]

Why should Illinois be considered a laughingstock? For every dollar the state of Illinois sends to the federal government in taxes it gets less than $1 back in the form of federal aid. Contrast that with SC, which gets back $7.87 for every $1 sent to the federal government. This inequity leads to artificially low state taxes, according to the article below. Perhaps it’s time for Illinois to get a fair share of the dollars it sends to the federal government?

https://www.theatlantic.com/business...takers/361668/

[wase4711]

those numbers are over 3 years old, so meaningless now, and since when is "Wallet Hub" the acknowledged authority on Federal appropriations?
if illinois stopped sending every cent today, it still wouldnt fix the nightmare of horrors brought on by the dems/Madigan here over the last 20 years