Writer and economist Stephen Moore, a native Illinoisan, writes that:
* Nearly one of three state tax dollars in Illinois now goes to paying pensions for retired municipal and state employees.
* The Illinois government recently announced that its treasury had insufficient funds to pay off the State’s lottery winners.
* Illinois was the home of such iconic mega-employers as Caterpillar, Sears Roebuck and the Chicago Mercantile Exchange. But today, “the rich” are fleeing for Florida, Arizona and Texas.
* The City of Chicago is now at “junk bond” status with regard to further credit.
See Moore’s column here.
