Page 1 of 3 123 LastLast
Results 1 to 10 of 22

Thread: How bad are DPRI finances?

  1. #1

    Default How bad are DPRI finances?

    They're SO bad that even the multi-state lotteries are pulling out:

    http://www.foxbusiness.com/markets/2...ut-budget.html

    There was a period of a few months where prizes over $600 weren't being paid to Illinois lottery winners!

  2. #2

    Default

    I won't argue that lotteries have the right to do as they will, but I will say that Gov Rauner has not helped matters. If you actually think he's holding the budget hostage over property tax relief for the middle class, then I have a bridge in New York City that I'd like you to see. The plain fact is that we cannot solve current problems with solutions that worked in the past. If we need to raise income and sales tax, then that's what needs to be done.

    I'm sure that, as a Conservative, you're opposed to the State spending more of your money on things like roads, schools, etc. You see obstructionist Democrats who want to take more money from you; I see obstructionist Republicans thinking that current tax revenues should go as far as they always have. At the end of the day, money seems to be a lot more important to the latter.

    I imagine we'll cancel each other's votes in 2018!

  3. #3

    Default



    Quote Originally Posted by Maxx View Post
    They're SO bad that even the multi-state lotteries are pulling out:

    http://www.foxbusiness.com/markets/2...ut-budget.html

    There was a period of a few months where prizes over $600 weren't being paid to Illinois lottery winners!
    What's the DPRI? Why are lottery companies thinking of barring players from Illinois? I don't understand... :-/

    Does Illinois tax lottery companies more than other states?

  4. #4

    Default



    Quote Originally Posted by sbmccue View Post
    I won't argue that lotteries have the right to do as they will, but I will say that Gov Rauner has not helped matters. If you actually think he's holding the budget hostage over property tax relief for the middle class, then I have a bridge in New York City that I'd like you to see. The plain fact is that we cannot solve current problems with solutions that worked in the past. If we need to raise income and sales tax, then that's what needs to be done.

    I'm sure that, as a Conservative, you're opposed to the State spending more of your money on things like roads, schools, etc. You see obstructionist Democrats who want to take more money from you; I see obstructionist Republicans thinking that current tax revenues should go as far as they always have. At the end of the day, money seems to be a lot more important to the latter.

    I imagine we'll cancel each other's votes in 2018!
    As a Conservative I'm opposed to the state spending money it doesn't have and never had.

    As a Conservative, I'm opposed to the state continuing to chase away its tax base by raising taxes rather than get spending under control. Raising taxes can't increase revenue if the people with money and income leave. All you're left with is the dead weight: Those who consume state services, but don't (or can't) pay into the pot.

    Of course roads and schools are necessary. Motherhood and apple pie, but you can't just say "raise taxes, its for the kids". At some point (like now...), you have to call bullshit and say "How come you're asking for more when we're already near the top of every tax burden chart in America? How have other states managed?" Chicago schools want more, more, more, yet Chicago's population has been shrinking for decades.

    Governor Rauner was elected specifically because the Democrats refused to rein in their spending. Don't even talk to me about raising taxes yet again until you can demonstrate the ability to restrain your spending. The pot is not unlimited. I have to live within my means, you have to live within your means, Springfield has to live within our means as well. If it's not stopped now, when will it stop? When a bankruptcy court calls bullshit?

  5. #5

    Default



    Quote Originally Posted by tiny View Post
    What's the DPRI? Why are lottery companies thinking of barring players from Illinois? I don't understand... :-/

    Does Illinois tax lottery companies more than other states?
    Democratic Peoples Republic of Illinois...like the Democratic Peoples Republic of MA....liberal states that spend like drunken sailors and where conservatives feel like prisoners in their own state.
    Last edited by HogansHeroes; 19-Jun-2017 at 23:54. Reason: no name calling

  6. #6

    Default



    Quote Originally Posted by tiny View Post
    What's the DPRI? Why are lottery companies thinking of barring players from Illinois? I don't understand... :-/

    Does Illinois tax lottery companies more than other states?
    1. Democratic People's Republic of Illinois

    2. The lottery companies are pulling out because Illinois is financially unreliable. Illinois is collecting the revenue as an agent for the companies, and it's less than certain that those companies will get their share, or that the lottery players will get paid. Illinois is some $15 billion behind in paying its bills for goods and services. Some Motor Vehicle facilities (drivers licenses, etc) closed because they were evicted for non-payment of rent, in some cases for more than a year. At any moment, bankruptcy could intervene and people who provided everything from rental cars to copiers could be left holding the bag for months, even years of back invoices. I'm not holding my breath for my state income tax refund.

  7. #7

    Default



    Quote Originally Posted by MassIncon View Post
    Democratic Peoples Republic of Illinois...like the Democratic Peoples Republic of MA....corrupt commie liberal shit states that spend like drunken sailors and where conservatives feel like prisoners in their own state.


    Quote Originally Posted by Maxx View Post
    1. Democratic People's Republic of Illinois
    Oh -- ha ha! Gotcha. :-D



    Quote Originally Posted by Maxx View Post
    2. The lottery companies are pulling out because Illinois is financially unreliable. Illinois is collecting the revenue as an agent for the companies, and it's less than certain that those companies will get their share, or that the lottery players will get paid.
    Ah, right. So local governments run the lottery on behalf of the lottery companies, and their cash-flow problems mean that they're not prioritising lottery payments...?



    Quote Originally Posted by Maxx View Post
    Illinois is some $15 billion behind in paying its bills for goods and services. Some Motor Vehicle facilities (drivers licenses, etc) closed because they were evicted for non-payment of rent, in some cases for more than a year. At any moment, bankruptcy could intervene and people who provided everything from rental cars to copiers could be left holding the bag for months, even years of back invoices. I'm not holding my breath for my state income tax refund.
    OMG! That's incredible! How did that happen? Shouldn't national government intervene?

    I'm sure some councils over here are struggling with their finances, but they pay their bills (increasing their debt). I'm not sure how they get credit... Maybe it's underwritten by national government...?
    Last edited by HogansHeroes; 19-Jun-2017 at 23:54. Reason: fixing quote tag

  8. #8

    Default



    Quote Originally Posted by tiny View Post
    Ah, right. So local governments run the lottery on behalf of the lottery companies, and their cash-flow problems mean that they're not prioritising lottery payments...?
    They may... or may not. Priorities change by the day, by which group screams the loudest, or who has the tightest grip at that moment on the state's proverbial gonads.



    OMG! That's incredible! How did that happen? Shouldn't national government intervene?
    Should they? No. Do they? Occasionally. A Barack Obama might be inclined to help out his Democratic comrades.... unless, as happened a few years ago, Democratic Governor Blagojevich was in the process of going to prison for (among other things...) trying to sell the Senate seat BHO vacated to take the Presidency. Nobody wanted to admit knowing Blago, or even that Illinois existed.

    As for the debt... the can has been kicked down the road for decades. Democrat politicians are beholden to state employee unions to get elected, so they won't cross them. The elephant in the room is state employee pensions, which have an unfunded liability somewhere north of $100 billion. Politicians have been using various legislative maneuvers to put off contributions to the pension fund for decades, in order to pay current accounts, and to continue funding their favorite programs.

    Back in 1970, there was an amendment to the Illinois Constitution that said, essentially: You can't infringe public employee pensions. As a result, courts have shot down any attempt to get out of trouble that way. With declining state population, and an increasing number of low or no wage illegals in the sanctuary city of Chicago flooding the schools with children requiring special services.... It may already be at the point where bankruptcy is the only way out. At that point, there is a Federal Pension Guarantee system that covers at least a part of that, so there's no motivation for the unions to work with the state to help out.




    I'm sure some councils over here are struggling with their finances, but they pay their bills (increasing their debt). I'm not sure how they get credit... Maybe it's underwritten by national government...?
    States can issue bonds (debt). Illinois' bond rating and interest rate is somewhere around that of a crack whore who's just been booted off welfare. Congress could act to underwrite Illinois debt, but there is no obligation to do so in the Constitution. I'm guessing that such legislation would have a tough time getting through a Republican congress and a President Trump.
    Last edited by Maxx; 19-Jun-2017 at 19:39.

  9. #9

    Default



    Quote Originally Posted by Maxx View Post
    They may... or may not. Priorities change by the day, by which group screams the loudest, or who has the tightest grip at that moment on the state's proverbial gonads.

    Should they? No. Do they? Occasionally. A Barack Obama might be inclined to help out his Democratic comrades.... unless, as happened a few years ago, Democratic Governor Blagojevich was in the process of going to prison for (among other things...) trying to sell the Senate seat BHO vacated to take the Presidency. Nobody wanted to admit knowing Blago, or even that Illinois existed.
    Trying to sell Obama's vacant seat in the Senate...?! Erm... How does that work? The Senate is like your "House of Lords" isn't it? (*blushes at what is probably a dumb question*)



    Quote Originally Posted by Maxx View Post
    As for the debt... the can has been kicked down the road for decades. Democrat politicians are beholden to state employee unions to get elected, so they won't cross them. The elephant in the room is state employee pensions, which have an unfunded liability somewhere north of $100 billion. Politicians have been using various legislative maneuvers to put off contributions to the pension fund for decades, in order to pay current accounts, and to continue funding their favorite programs.

    Back in 1970, there was an amendment to the Illinois Constitution that said, essentially: You can't infringe public employee pensions. As a result, courts have shot down any attempt to get out of trouble that way. With declining state population, and an increasing number of low or no wage illegals in the sanctuary city of Chicago flooding the schools with children requiring special services.... It may already be at the point where bankruptcy is the only way out. At that point, there is a Federal Pension Guarantee system that covers at least a part of that, so there's no motivation for the unions to work with the state to help out.

    States can issue bonds (debt). Illinois' bond rating and interest rate is somewhere around that of a crack whore who's just been booted off welfare. Congress could act to underwrite Illinois debt, but there is no obligation to do so in the Constitution. I'm guessing that such legislation would have a tough time getting through a Republican congress and a President Trump.
    Right. That's an interesting insight. Thanks for explaining that. :-)



    Quote Originally Posted by Maxx View Post
    Illinois' bond rating and interest rate is somewhere around that of a crack whore who's just been booted off welfare.
    Ha ha! You certainly have a way with words, Maxx!

  10. #10

    Default



    Quote Originally Posted by tiny View Post
    Trying to sell Obama's vacant seat in the Senate...?! Erm... How does that work? The Senate is like your "House of Lords" isn't it? (*blushes at what is probably a dumb question*)
    Sort of. Each state gets 2 senators regardless of size or population, the intent being for Senators to represent the interests of their state, congressmen to represent the interests of the citizens in their district. Rules for vacant seats vary from state to state. In Illinois, the Governor appoints someone to a vacant Senate seat for the balance of the 6 year term. In Illinois, though, if you're a Democratic Senator, prison or death is about the only way to unseat you. So the value was pretty high.

    Blago was shopping it around for various kinds of remuneration ranging from 'campaign contributions' to 6 figure no-show jobs for his wife (daughter of prominent and infamous Chicago alderman Dick Mel). There are tapes. They're priceless. "I got this thing....its effing golden".... "I'm not going to just give it away!"

    Found it:
    Last edited by Maxx; 19-Jun-2017 at 20:48.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
ADISC.org - the Adult Baby / Diaper Lover / Incontinence Support Community.
ADISC.org is designed to be viewed in Firefox, with a resolution of at least 1280 x 1024.