Lessons from Big-Spending Illinois

By Jonathan Small

Oklahoma just completed, with much gnashing of teeth and moaning, a budget year with a shortfall of nearly $1 billion. Imagine, though, facing deficits that total $30 billion or more – and that’s before you even start discussing a $250 billion pension debt.

Such is the case with Illinois, where lawmakers haven’t even managed to pass a budget since 2015, where they have failed to balance the state budget every year since 2001, and where annual tax increases have failed miserably to keep the state afloat.

 

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