Illinois Governor Warns His State is Entering ‘Banana Republic’ Territory, Not Even the Lottery is Safe

Illinois, buoyed by its crown jewel and murder capital of the United States, Chicago, is heading towards financial ruin — castigated the once proud state into ‘banana republic’ status, as described by Governor Bruce Rauner (R).

Court ordered payments, unpaid bills amounting to billions, has the state scrambling for cash. Current estimates predict 100% of the state’s monthly revenue will be energetically devoured — causing Rauner to call a special session with the democratically led assembly to pass a budget for the first time in three years.

If the budget fails, and God willing it shall, Illinois will lose their lottery.

(Sausagefags eternally beat down)

Source: Fox

The state lotto requires a payment from the legislature each year. The current appropriation expires June 30, meaning no authority to pay prizes. In anticipation of a budget deadlock, the state already is planning to halt Powerball and Mega Millions sales.

“It is disappointing that the legislature’s inability to pass a budget has led to this development and will result in Illinois lottery players being denied the opportunity to play these popular games,” Illinois Lottery Acting Director Greg Smith told Fox News.

“We’re like a banana republic,” Rauner said earlier this month, after the General Assembly failed, yet again, to pass a budget package by the regular session deadline. “We can’t manage our money.”

Due to the utter incompetence by Illinois legislators, Moody’s recently downgraded their credit rating to the lowest of any state in the union. One of the more notable red flags is the state’s $130 billion unfunded pension obligations. When they say ‘unfunded’, what they really mean is they spent all of the money employees set aside for their retirement — wasting it on pet projects, a grotesque display of debauchery all too familiar with America’s maturing form of crony capitalism.

Additionally, upwards of $13 billion in bills are in arrears.

“Nobody here in Illinois is considering bankruptcy—first of all, it’s not allowed,” said Steve Brown, press secretary for Illinois House Speaker Michael Madigan. “Second of all, it would damage the reputation of the state and it’s just not necessary.”

U.S. Sens. Dick Durbin and Tammy Duckworth, both Democrats from Illinois, declined to respond to Fox News’ request for comment on whether they would consider getting involved in introducing a measure allowing state bankruptcy.

“Illinois is the fiscal model of what not to do,” Rep. Peter Roskam, R-Ill., told Fox News, while not commenting on the bankruptcy question. “This avoidance in behavior toward dealing with our challenges is what leads to the devastating impacts we are seeing today.”

Just last week, the Illinois comptroller, who is responsible for paying the state’s bills, warned the office would be paying out 100 percent of Illinois’ monthly revenue, leaving negative funds for “discretionary spending. ”

But Rauner claims the Republicans have a new plan that could remedy the state’s crippling financial situation.

“Republicans in the General Assembly have laid out a compromise budget that I can sign,” Rauner said, calling it a “true compromise.”

 

This little detail at the end of a Trib story on Illinois budget impasse #twill pic.twitter.com/mgrAE0F4i7

— natasha korecki (@natashakorecki) June 16, 2017

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