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  1. 07-03-2010, 01:54 PM #1
    JohnDoe2
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    Illinois Stops Paying Its Bills, Can’t Stop Digging Hole

    Illinois Stops Paying Its Bills, but Can’t Stop Digging Hole

    Sally Ryan for The New York Times

    Illinois Comptroller Daniel W. Hynes. The state faces a deficit of at least $12 billion.

    By MICHAEL POWELL
    Published: July 2, 2010

    CHICAGO — Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo.

    Payback Time

    Articles in this series are examining the consequences of, and efforts to deal with, growing public and private debts.

    He picks the papers off his desk and points to a figure in red: $5.01 billion.
    “This is what the state owes right now to schools, rehabilitation centers, child care, the state university — and it’s getting worse every single day,â€
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  2. 07-03-2010, 02:18 PM #2
    ReggieMay
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    And the Illinois state treasurer and co-owner with his family of a failed/seized bank thinks he should have Obama's senate seat.
    "A Nation of sheep will beget a government of Wolves" -Edward R. Murrow

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  3. 07-04-2010, 06:09 PM #3
    JohnDoe2
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    IL. may be in as big a financial mess as CA.
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