Democratic-controlled states throughout the country are experiencing financial difficulty and out-migration.President Barack Obama’s home state of Illinois, for example, recently had its credit rating downgraded by Standard & Poor’s following a failed effort to reform the state’s massively underfunded pension system. The state’s credit rating is now among the worst in the country.
A new report from the State Budget Crisis Task Force led by former Federal Reserve Chairman Paul Volcker found that Illinois’s state budget “is not fiscally sustainable.”
Read the rest -- it's an indictment on socialism and its Keynesian economics.
