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Illinois is better off bankrupt

JUNE 8, 2018 | by John Merrifield, Barry Poulson | REAL CLEAR POLICY

total liabilities

“… The expectation is that the State of Illinois will continue to be dependent on federal bailouts, and local jurisdictions will continue to rely on state bailouts. The genesis of these expectations is found in the federal bailouts received during the 2008 financial crisis. During the financial crisis, the federal government transferred hundreds of billions of dollars in direct and indirect aid to state and local governments. … A disproportionate share of this bailout money flowed to heavily indebted states, such as Illinois.”

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