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Señor Member
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19,667 Posts
I'd be proud of this if we weren't broke. Why are we still spending money?
 

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Turgid Member
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If you pay taxes in IL then you already paid for the class and more. ;)
 

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Señor Member
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That's the problem, we don't. We only pay for $.60 of every dollar we spend. We borrow the rest. And, that $1.00 I'm talking about includes the service on the previous borrowing.

Since our credit rating is falling, our interest rates on new debt are increasing. So, we're using more expensive debt to pay the service on cheaper previous debt. Like, using a credit card to pay your mortgage instead of admitting you can't afford your house.

We need to spend 40% less in order to survive on our current revenue.

ISU is state funded.

We're doomed.
 

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7,340 Posts
Discussion Starter #5
That's the problem, we don't. We only pay for $.60 of every dollar we spend. We borrow the rest. And, that $1.00 I'm talking about includes the service on the previous borrowing.

Since our credit rating is falling, our interest rates on new debt are increasing. So, we're using more expensive debt to pay the service on cheaper previous debt. Like, using a credit card to pay your mortgage instead of admitting you can't afford your house.

We need to spend 40% less in order to survive on our current revenue.

ISU is state funded.

We're doomed.
Sadly, the financial position of the state was the first thing that I thought of when I read that story.

I say let Chicago go solo and the rest of the state can merge with Missouri. It's nice country with nice folks for the most part. We'd be tickled to have all y'all except that City.

Of course if you dumped Chicago, you'd be just fine on your own!! :)
 

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Señor Member
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19,667 Posts
Sadly, the financial position of the state was the first thing that I thought of when I read that story.

I say let Chicago go solo and the rest of the state can merge with Missouri. It's nice country with nice folks for the most part. We'd be tickled to have all y'all except that City.

Of course if you dumped Chicago, you'd be just fine on your own!! :)
Here endeth the lesson. Perfectly put.
 

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1,356 Posts
Isn't Chicago close enough to just give it to Canada?
 

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And they just found out from a audit of Medicaid that of the 29,000 they checked, 19,000 were not eligible for it. Now they need to audit food stamps and welfare.
 
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