Illinois set to borrow from Fed’s “lender of last resort” facility a second time.
The public employees not only have a stranglehold in Illinois but apparently also the Fed.
(From Wirepoints)
COVID-19 has brought to full view all of Illinois’ pre-pandemic problems. The increased stress is highlighting Illinois’ extreme outlier position nationally when it comes to finances, notably pension debts and the state’s unwillingness to reform. Gov. Pritzker continues to count on a federal bailout and more tax hikes to keep the state afloat, but neither will reverse the problems of overwhelming pension costs, the “nation’s least-tax-friendly-state” status and the increasing outmigration of Illinois residents.
This article was originally posted here: https://www.ac2news.com/2020/10/illinois-set-to-borrow-from-feds-lender-of-last-resort-facility-a-second-time/.
