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Ted Dabrowski of the Illinois Policy Institute on the continued fiscal problems in the Land of Lincoln.
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It's startling statistic for you right from an insolvent state 15%.
Of -- and -- residents living in poverty one in three off.
It's all -- poverty.
Joining the company from Chicago attend -- will be Illinois policy institute fit.
First of could you defines poverty forming.
Shares of poverty -- -- -- a family of four.
Is making less than 44000 dollars.
And income so that that's that's the definition about the federal poverty level does that include all the -- -- payments which they receive nominal -- subsidies food -- from.
Right -- that would include that would include all the all the income that they make but I think -- that the big picture answers look at a third of Illinois at or near poverty there.
And and 15% at poverty.
It's a really sad number and and what I think we need to ask -- question is how did we get there.
There well why would you or I mean it and that's about a far higher level of polity than almost all other states in the nation so tell me why Illinois.
Well that's exactly the question Ryland oil -- from for decades the state has been.
Has been running high deficits.
Spending spending and spending over borrowing and right running big government programs.
As what you've got -- you've got up a -- -- failure to bad numbers the sad part is every time the politicians look at the numbers and Illinois.
They think the solution is more taxes more spending and more government what we're kinda trapped in this virtual circle here -- -- -- complete the -- -- want is the direct link.
Between a very activist government that spends big and goes big into debt what is the dot show -- the direct connection between that and a very high public enough.
I think I think that the best way to look at this is -- see what's happening with with people leaving Illinois.
Illinois loses one person every ten minutes to other states people are leaving companies don't want -- -- they're scared of coming Illinois there's too much debt and and frankly you know.
You can't blame for being scared -- ought to pay more taxes they don't want to.
-- it was stated that has more more poor people they they want to move to states that are dynamic.
They're cutting taxes like if you look at other states -- your tax rates they want to move to dynamic economies so dynamic war canoes leave.
And dynamic companies that want to -- do not come into Illinois that's the connection with a very high level of government spending and government debt.
-- that's precisely right and if you think about it this is the scary part for Illinois is the people who can leave -- the want to have money and they leave.
The people -- -- -- -- -- -- don't have means and with the amount of debt that I know you've led and covered on on on the amount of Illinois debt.
You're gonna leave -- much in debt with people who can't pay it and that smells like insolvency I keep asking the same question -- -- -- to you and other people from Illinois when does the crunch time com.
When do we stop lending Illinois money on when does Illinois asked the feds for -- bailout.
Well look you've you've you've -- on this and -- that's the right questions.
You know the Illinois Illinois continues to fail to get a handle on its debt the politicians won't take on the unions.
That they won't reform pensions.
And it's it's really become dangerous but I tell him what was missing when does the crunch come this year and actually has a -- can't yet -- I think I think you know look if you look at what happened in California they got away with one more tax increase we're trying to block tax increases in Illinois.
But as long as the politicians can do that they kind of -- the problem to kick the can down the road it's no different what's happening in Washington and frankly if you wanna see.
What's gonna happen to the rest of the nation all you need to do is look at at Illinois Scalia you know it will Obama using the on what playbook in in Washington -- -- -- Ted Nebraska Illinois policy institute thank you very much indeed -- see you -- thank you the.
