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Re: llinois on the Brink of Bankruptcy  

By: ribit in POPE IV | Recommend this post (3)
Thu, 07 Apr 16 10:25 PM | 75 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 05387 of 47202
(This msg. is a reply to 05370 by Decomposed)
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decomp
...there is currently a push on to bail out Puerto Rico. Once we bail out a territory, how can we refuse to bail out a state. Piss Poor government can always be covered up as long as there is plenty of OTHER PEOPLES MONEY.




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Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!

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The above is a reply to the following message:
llinois on the Brink of Bankruptcy
By: Decomposed in POPE IV
Thu, 07 Apr 16 9:56 AM 		Msg. 05370 of 47202

April 6, 2016

Illinois on the Brink of Bankruptcy

ArmstrongEconomics.com

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The pension crisis is brewing and the one state that appears to be heading toward a complete bankruptcy is Illinois. Clients should not own ANY debt from Illinois, be it city, municipal, or state. Just get out before the curtain falls. The Illinois Constitution plainly states that pension benefits, once granted, “shall not be diminished or impaired.” Thus, taxpayers are absolutely screwed and this is not a place you want to own property. Governments cannot negotiate to reduce pensions so state workers will be pitted against taxpayers. The Supreme Court has struck down any attempt to reduce liabilities based upon this clause in the Illinois Constitution.

http://www.armstrongeconomics.com/international-news/north_america/americas-current-economy/illinois-on-the-brink-of-bankruptcy/

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