Illinois Pays Lottery Winners In IOUs After $30K/Month Budget "Guru" Fails To Produce Deal

http://www.zerohedge.com/news/2015-08-30/illinois-pays-lottery-winners-ious-after-30kmonth-budget-guru-fails-produce-deal

The Last Laugh: Illinois Pension System Charged For Not Disclosing "Structural Underfunding"

http://www.zerohedge.com/news/2013-03-11/last-laugh-illinois-pension-system-charged-not-disclosing-structural-underfunding

Is Gold and Silver Registration Coming to Illinois?

This bill won't pass, but expect more versions of it to come up in the future.  Research Executive Order 6102 in 1933, signed by FDR.  And then Google what he did in 1934.  Confiscation and theft are the only two words to describe that bait-and-switch.

http://libertyblitzkrieg.com/2013/01/10/is-gold-and-silver-registration-coming-to-illinois/

So let me get this straight.  First they want gun registration and now precious metal registration?  I’m sure the government would only use such information in our best interests, because as we all know: Your Government Loves You.  Sounds reasonable, after all, only “terrorists” buy guns and gold anyway.

Meet the ” Precious Metal Purchasing Act” or SB3341, brought to you by the lovely folks at the Illinois 97th General Assembly:

PIIGS In America: Is Illinois Preparing To Request A Federal Bailout?

http://www.zerohedge.com/news/piigs-america-illinois-preparing-request-federal-bailout

Former State Senator Says ‘Goodbye, Illinois’

http://godfatherpolitics.com/2764/former-state-senator-says-goodbye-illinois/#ixzz1hI310Kjk

Underfunded Illinois Pension Fund Under Investigation By The SEC For Accounting Fraud

As usual, the comments on Zero Hedge are as entertaining as the articles submitted.

http://www.zerohedge.com/article/underfunded-illinois-pension-fund-under-investigation-sec-accounting-fraud

Illinois Governor Flees Capitol Through The Basement After Disastrous Meeting On State Budget

Things are getting unhinged inside the Illinois State Capitol.  The title of this article says it all.

http://www.businessinsider.com/on-the-brink-illinois-may-increase-income-tax-by-75-2011-1

Illinois pension fund death spiral revisited

http://www.zerohedge.com/article/illinois-pension-fund-death-spiral-revisited-10-years-money-left

This fund is already selling, this year, about $80 million of assets a month. Here's the problem - if you have to sell faster than you thought you have to sell, because you are not getting that state funding, then you sell the liquid stuff - stocks, bonds, and then you are left with private equity, real estate, infrastructure...all of a sudden your portfolio has changed, people are asking questions, it is a major issue.

http://www.youtube.com/watch?v=V3obGLpSKFA&feature=player_embedded

Illinois ignoring bills

http://www.msnbc.msn.com/id/37136518/ns/us_news-life/

Illinois isn't bothering with the formality of issuing IOUs, as California did last year. It simply doesn't pay.

Plenty of states face major deficits as the recession continues. They're cutting services or raising taxes or expanding gambling to close the gap. But Illinois is taking the extra step of ignoring bills.

Right now, $4.4 billion worth of bills, some dating back to October, are sitting in the Illinois comptroller's office waiting to be paid someday.

A supplier refused to sell bullets to the Department of Corrections unless it got paid in advance. Legislators have gotten eviction notices for their district offices because the state wasn't paying rent. One legislator said he had to use campaign funds to pay the telephone bill after service was cut off at his office.

This sounds awfully like Greece. And a default.

Illinois is broke

First California, now Illinois--bankruptcy is right around the corner for the Land of Lincoln.

http://www.chicagobusiness.com/cgi-bin/mag/article.pl?articleId=32910&seenIt=1