Man Pritzker annoys me. (credit card, bankruptcy, bills)

[MSchemist80]

Originally Posted by jasperhobbs

There are a lot of private and public pensions that are in trouble. A lot of teamster pensions are going to dry up by 2025 unless they are bailed out. The government has been doing bailouts for a long time and that will continue in the future.

Which brings us back to the overarching problem. Pensions=insolvency.

[Sunbiz1]

Originally Posted by jasperhobbs

A lot of teamster pensions are going to dry up by 2025 unless they are bailed out. The government has been doing bailouts for a long time and that will continue in the future.

Lovely, the government bailing out the very union that has been holding municipalities/taxpayers hostage for decades.

[My Kind Of Town]

Originally Posted by MSchemist80

Yet as predicted pension debt only increased despite raising taxes and despite having a better than expected revenue year in 2019.

https://www.reuters.com/article/us-i...-idUSKBN1Y82ZP



Illinois was still sinking before Covid19 hit.
https://www.chicagobusiness.com/greg...llinois-budget




At what point are the Dems going to stop taxing working families and grannies out of their homes and into exodus from the state and realize they need major restructuring?

Maybe Illinois should take the same approach as the federal government since that’s worked out so well for the federal deficit since the Trump tax cuts a few years ago (and this article is from pre-covid impacts btw; much like Illinois you don’t even want to see where the national debt ends up post covid)

https://www.google.com/amp/s/www.for...g-economy/amp/

[My Kind Of Town]

Originally Posted by jmgg

At the rate we're going, this might not be so far in the future. Servicing this debt (interest paid) is projected to surpass spending on defense in the next few years making it the 3rd largest federal outlay behind healthcare expenditures and social security.

Just printing money don't work as that's the recipe for inflation and the weakening of our dollar in the eyes of the rest of the world. Reference Venezuela and the Weimar Republic in 1920's-1930's Germany and any other fully socialist country so admired by the progressives.

Exactly. National debt sits at $25T and counting...

https://www.usdebtclock.org/

[jasperhobbs]

Originally Posted by My Kind Of Town

Exactly. National debt sits at $25T and counting...

https://www.usdebtclock.org/

But but I thought the Republicans were fiscally responsible. And don't blame it all on COVID 19, Trump and company were spending like crazy long before the virus.

[jasperhobbs]

Originally Posted by My Kind Of Town

Exactly. National debt sits at $25T and counting...

https://www.usdebtclock.org/

With the likelihood, Trump does get re-elected, I bet the national debt will go over 30 trillion by the time he is done.

[My Kind Of Town]

Originally Posted by jasperhobbs

With the likelihood, Trump does get re-elected, I bet the national debt will go over 30 trillion by the time he is done.

Honestly, it might get there by November even.

[My Kind Of Town]

Originally Posted by jasperhobbs

But but I thought the Republicans were fiscally responsible. And don't blame it all on COVID 19, Trump and company were spending like crazy long before the virus.

It wasn’t so much that Trump was spending like crazy, it’s that he didn’t reduce spending by much while significantly reducing revenue (taxes). Add it up and he was on pace to accumulate an additional $4-4.5T in national debt BEFORE covid hit during his first term. Now that same projection is in the $8-10T range. So fiscally responsible!

[jasperhobbs]

Originally Posted by My Kind Of Town

It wasn’t so much that Trump was spending like crazy, it’s that he didn’t reduce spending by much while significantly reducing revenue (taxes). Add it up and he was on pace to accumulate an additional $4-4.5T in national debt BEFORE covid hit during his first term. Now that same projection is in the $8-10T range. So fiscally responsible!

Good points. Perhaps the die-hard Republicans can chime in and defend the reckless spending.

[Caglee]

Originally Posted by jasperhobbs

Good points. Perhaps the die-hard Republicans can chime in and defend the reckless spending.

Why is it that democrats only ever seem to care about government spending when a Republican is in office?

Trump was elected to handle immigration, not reduce government spending. Since Trump has managed to screw up both, if the democrats were able to run anyone even the slightest bit competent, Trump would be a one-term president. But with Biden at the helm, that's looking unlikely.