Topics > Politics/Legislation/Elections
S&P, Moody's Downgrade Illinois to Near Junk, Lowest Ever for a U.S. State
Libertas:
https://www.bloomberg.com/news/articles/2017-06-01/illinois-bonds-cut-to-one-step-above-junk-by-s-p-over-stalemate
::mooning::
https://www.youtube.com/watch?v=Swvf3w6hcY4
John Florida:
I feel bad for the decent people that live there and can't get out.
AlanS:
--- Quote from: John Florida on June 02, 2017, 02:18:34 PM --- I feel bad for the decent people that live there and can't get out.
--- End quote ---
Which, sadly, is the vast majority outside of Chicago.
richb:
Illinois is becoming more like New York State and California. Ruled and mismanaged by the big cities even though it doesn't have a majority of the population, just a majority of the politicians.
Upstate New York is furthest along with the economic depression that can't be shaken, because of the politics. Its been in a deep depression since after WWII. It's most pointed along the border with Pennsylvania (a state that is hardly booming either), on how much economic activity starts up on the border. Fracking alone (allowed in Pennsylvania not allowed in NYS) makes a big difference by itself.
Then there is inland California. It's depression is only a couple decades old. So little activity (except for a very high crime rate) once your away from the coast. Then it picks up the minute you cross into Nevada.
Now we can add downstate Illinois. Up until the 1980's Chicago garbage could be contained and countered by booming places like DuPage and Lake counties. Now they don't boom any more as they have been spent and too many people with bad voting habit have invaded them. When you expand your business, you look to Wisconsin or Indiana for that. You can see this in action, happening along route 30 south of Chicago already. In Lynwood Illinois, its business district is dead, but the minute you cross into Dyer Indiana, it comes alive, just like that. There is a handful of former Lynwood businesses that moved across the border in order to stay in business.
And the politicians are doing nothing to stop it. They are only digging in deeper.
ToddF:
My whole life it's been nicer and more economically vibrant on the Iowa side of the border than the Illinois.
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