First published by Money Metals here:
https://www.moneymetals.com/news/2018/01/29/illinois-debt-crisis-001392
Those wanting a glimpse into the future of our federal government’s finances should have a gander at Illinois. The state recently “resolved” a high-profile battle over its budget. Taxpayers were clubbed with a 32% hike in income taxes in an effort to shore up massive underfunding in public employee pensions, among other deficiencies. But, predictably, it isn’t working. People are leaving Illinois in droves.
