Illinois Dems Bank on a Congressional Bailout
Washington Free Beacon,
by
Charles Fain Lehman
Original Article
Posted By: Pluperfect,
5/27/2020 5:21:50 AM
Illinois Democrats passed a state budget over the weekend that relies on billions in still-not-guaranteed federal dollars to avoid a gaping deficit.
The state's 2021 budget, now headed to Gov. J. B. Pritzker's (D.) desk, is written with the expectation that the $3.5 billion the state received under the CARES Act will be freed up for general spending. That would require Congress to change limitations on those funds, which currently can only be spent on expenses directly related to coronavirus—not general fiscal costs.
The bill also gives Pritzker the authority to borrow up to $5 billion from the Federal Reserve as part of a program backstopped by Congress.
Reply 1 - Posted by:
DCGIRL 5/27/2020 5:49:35 AM (No. 423121)
No more bailouts. These states created these problems, let them figure out how to fix it.
17 people like this.
Reply 2 - Posted by:
globalwarmer 5/27/2020 6:17:05 AM (No. 423135)
NOPE
15 people like this.
Reply 3 - Posted by:
Gruntmedic 5/27/2020 6:22:03 AM (No. 423138)
Will never get by Mitch or President.
What balls,wanting us to pay there debt's.
They are broke,so how will they pay back a 5 billion dollar loan?
11 people like this.
Reply 4 - Posted by:
Ming 5/27/2020 7:35:27 AM (No. 423178)
They will most likely get it, and then wail like stuck pigs that it's not enough.
6 people like this.
Reply 5 - Posted by:
seamusm 5/27/2020 7:43:49 AM (No. 423185)
Hey! Great idea. Think I'll do my own budget counting on winning the lottery. Maybe THAT will let me buy a new Lexus, and a house, and a boat.....Maybe?
1 person likes this.
Reply 6 - Posted by:
3XALADY 5/27/2020 7:48:28 AM (No. 423192)
Why should the states spend money wisely. They always know Uncle Sugar will bail them out.
0 people like this.
Reply 7 - Posted by:
Clinger 5/27/2020 8:22:09 AM (No. 423223)
Somehow shameful seems to fall a bit short of describing Illinois politicians. Remember what you are being asked to fund. They sold out their own citizens making promises that can't be fulfilled in return for campaign contributions and support, largely from public sector unions. So given the fungible nature of money, they are asking you to fund their phony baloney political campaigns to sustain their power.
They have one tool and it's a hammer. They pound on us with the head which causes flight reducing the tax base driving the need to pound even more, and they flip it around and try to pry money out of you with the claw. And if we complain we must hate minorities.
Yet, my neighbors keep voting for the thieves because they believe that establishes their moral superiority.
1 person likes this.
Reply 8 - Posted by:
anniebc 5/27/2020 8:26:43 AM (No. 423229)
Dem states are failing; extending the virus is their way of shoring up their failing states through bailouts. Unfair and wrong. Should not be tolerated. Governors who balance their budgets and whose states are in good financial shape need to speak up.
2 people like this.
Reply 9 - Posted by:
Strike3 5/27/2020 8:39:41 AM (No. 423243)
Illinois, New York, California, New Jersey, Michigan - all will be banging on the back door of Congress soon enough. No matter what deals are struck, money in democrat hands always seems to find its way into the wrong pockets. Empty pension funds, wasteful construction boondoggles, drugs for the homeless, all will be classified somehow as Coronavirus. Hopefully the productive residents of those states will have moved out and they will eventually have to face their greed and unwise choices. There are some major cities in the same boat and we all know what they have in common.
2 people like this.
Reply 10 - Posted by:
HotRod 5/27/2020 8:49:19 AM (No. 423256)
Like someone said: Pelosi's three trillion dollar wish list is just politicians bailing out other politicians. Nothing there to help the working people.
0 people like this.
Reply 11 - Posted by:
cor-vet 5/27/2020 9:01:01 AM (No. 423275)
Not no, but hell no! Money is fungible and this is just a hoped for bailout of a blue state by fiscally responsible red states.
0 people like this.
Reply 12 - Posted by:
Chuzzles 5/27/2020 9:47:30 AM (No. 423340)
They can hope for that until the cows come home and stomp their freespending fannies into the mud they all came from. No more bailouts. Live with your policies Blue States.
1 person likes this.
Reply 13 - Posted by:
rabblerouser 5/27/2020 10:21:20 AM (No. 423387)
Well, the only people that get really bothered by this are poor, working schlubs like myself. If you don't pay taxes, why should you give a sh__?
I have always wondered If you pay no taxes, why should you be eligible for representation? Someone answer me that?
1 person likes this.
Reply 14 - Posted by:
bigfatslob 5/27/2020 11:08:53 AM (No. 423438)
That's what is called creative accounting. It's like I want to travel to Las Vegas and be a winner every time I go.
I wish I could plug in a figure into my home budget like that. What a bunch of imbeciles.
1 person likes this.
Reply 15 - Posted by:
jeffkinnh 5/27/2020 3:12:36 PM (No. 423639)
Not one dollar!
Dems were furious when SALT limits were imposed. They had been able to do a high tax rip off of citizens in the states they controlled and they got to write it all off on their federal taxes. Then the pass through got limited and citizens started to complain about the high taxes they were now stuck with. Plus, the massive pension debt the dems had arranged started to come due. If Hillary had been elected, none of this would be a problem. Dems are desperately trying to backdoor their largess onto the coronavirus costs.
Just! Say! No!
0 people like this.
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