Illinois’ Debt Crisis Foreshadows America’s Financial Future

7:31 AM

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.

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