Farewell, Illinois

Governor Quinn got his wish.  In a lame duck session, after a resounding message in November from voters to trim back government, with a 30-29 vote including zero Republicans, Illinois has now increased personal and corporate taxes dramatically.

What scum.

Our governor and the outgoing legislature are pathological liars.  Under no circumstances will they actually cut spending over the next few years.  In no manner will they get this state back on solid financial ground.  Frothing at the mouth to get more money, Democrats have sealed the fate of Illinois.  We are going broke–fast.

Sometime within the decade, Illinois and several other states will face a crisis unlike any seen in the history of our country.  Tim Geithner has already said that the Fed will not bail out states.  Of course, he also said that about big business.  No matter.  Whether the Fed bails us out or we declare bankruptcy, Illinois is finished.  A bailout will simply mean all 50 states can enjoy hyperinflation together.  Somehow I doubt that drowning is any more enjoyable in crowds.

Many of us will start looking for states (or countries) that do not have a death wish.  You can bet that businesses have the atlas out right now, too.  If you cannot or for some reason do not want to leave this fair state, make sure you have sound financial plans that do not rely upon the state.  If your pension and health care is tied to Illinois, get good advice on building investments that will see you through the coming storm.  Start a side business to supplement your income and trust nothing from Springfield.  Good luck–you’re going to need it.

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About Terry Noel

I am an Associate Professor of Management and Quantitative Methods at Illinois State University. My specialty is entrepreneurship.
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One Response to Farewell, Illinois

  1. Well spoken, Professor Noel. 6 of us from the Rockford and Northern IL Tea Parties got on a bus for Springfield Jan. 5th, and spoke with three legislators (leaving messages with others) about the negatives of the tax increase, to no avail it turns out! Hauling around the Capitol is quite an experience. You get lost, you wind up on the Democrat side, when you wanted to find a Republican, and you wind up on the 2nd mezzanine, west corner, when you needed the 2nd mezzanine, north corner. Other than that, it’s easy to get around the Capitol! A bus from Illinois Policy Institute gave free rides from Downers Grove, Joliet and Bloomington. We traveled almost two hours to grab the Joliet bus. If this sounds APPEALING (departure from home 5:00 a.m.), consider joining us on the next Illinois Policy Institute-sponsored trip, which will be in March or April. Get regular updates from http://www.illinoispolicy.org or http://www.illinoistea.org WE NEED TO BREATHE DOWN THE NECKS OF OUR ILLINOIS LEGISLATORS. WE NEED TO MAKE THEM KNOW WE ARE WATCHING. Illinoisans will pay a terrible price for the actions just taken. The shocking thing is that this bunch in Springfield passed $113 Million in new spending, while beating their breasts about the trouble we’re in. Ten Dems did not vote for the increase. Let them FEEL THE LOVE! No Republicans supported the increase.

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