Dobbs – No Bailout For Bankrupt Illinois – Statehood For Broke Puerto Rico?

dobbs illinois puerto rico

Lou Dobbs has a few thoughts “on the State of Illinois, in crisis. Illinois just days away from entering a financial death spiral. The state’s credit has been downgraded more than 20 times since 2009. Personal income in Illinois has risen less than 1% since the recession of 2008.”

Dobbs says, “And people are fleeing the State of Illinois in droves. Illinois losing more residents last year than any other state in the union, and that’s been true for three straight years. There is no doubt who is to blame, which political party is to blame; all of this the result of Democrat policies. Dems have controlled the Illinois state legislature for fourteen straight years.”

Dobbs points out that “22 unions represent nearly all of the public employees in Illinois. And given the unconscionable mess that Democrats have made of Illinois, perhaps President Trump should just simply say, ‘no, no bailout, no more nonsense to be tolerated by the US government.’ And perhaps the state should just be stripped of its very name. I know this is radical but I’m just thinking out loud hear. Stripped of its name, maybe just say ‘enough of Democrat destruction.'”

“Strip the State of Illinois of its very name,” says Dobbs, “just leave a blank spot on the map for a while. And give the Illinois name to another cash-strapped, warmer locale that is also a vast swamp of corruption, irresponsibility and debt, Puerto Rico. The island is already in bankruptcy, it’s moving ahead nicely, thank you. Only $74 billion in debt there, $49 billion in pension obligations.”

“By contrast,” he says, “Illinois certainly, well it’s just another order of magnitude of difficulty to bail out. Illinois has more than $250 billion in unfunded pension liabilities – five times that of Puerto Rico. And approximately $15 in unpaid bills. Puerto Rico, earlier this month, voted overwhelmingly to become a state, largely because they’re broke, busted and have no other way out of their mess. They love America, wink wink.”

Dobbs adds, “And only a quarter of eligible voters showed up at the polls for the statehood referendum. In other words, Puerto Rico would fit right in here. We kick Illinois to the curb for a while. We wouldn’t even have to change the number of stars on the flag, at least for a while. Just think about it, if you will.”

 

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