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Cash strap state (Illinois) must pay more for medical bills.

Posted: Jul 1, 2017

Illinois to start paying $293 million in state money toward Medicaid bills every month and an additional $1 billion over the course of the next year, worsening a cash-flow problem caused by two years of budget-free spending by state government...;

Who knew that socialism would cost so much? - The legacy of Obamacare.

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The Democrats control the state legislature.

Maybe importing hordes of people wasn't such a good idea.... - The train wreck that is the state of

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Illinois has generated a lot of questions lately, including “Will its government ever pass a budget?”, “Will it ever pay its overdue bills?”, and “Is it possible for a state to go bankrupt?”

Looks like we’re about to get some answers to these questions, along with one more: “What happens to the financial markets when people finally realize that Illinois is far from the only impending bankruptcy?”

Today’s Wall Street Journal has an anecdote-filled article illustrating what certainly looks like a case of terminal financial mismanagement (How Bad Is the Crisis in Illinois? It Has $14.6 Billion in Unpaid Bills):

Among the many, many data points:

The state comptroller predicts unpaid bills will soon top $16 billion. “It is almost hard to say those numbers out loud because they seem so insane, but that’s where we are right now.”
Unfunded pension liabilities now total $250 billion. That’s about one-third of state GDP, and is in addition the myriad other debts taken on in recent years.
S&P Global Ratings has warned that it could lower the state’s rating to junk as early as this week if a budget isn’t passed.
Peoria-based OSF Healthcare, a network with 10 Illinois hospitals, is owed about $115 million for bills over four months old, the equivalent of 18 days of operating expenses.
The state owes Illinois dentists $225 million. Some dentists with lots of state workers are selling receivables to keep the lights on. Others are asking state employees to pay in cash.
The state owes two Springfield hospital systems more than $200 million.
The Coliseum building at the state fairgrounds closed indefinitely earlier this year after the state failed to fund needed repairs.
Eastern Illinois University has received $53 million less in state funding in the past five years than the previous five. Professors in the chemistry department haven’t been able to print in color since the department’s printer ran out of yellow ink a year ago. Enrollment has fallen from 12,000 to 7,000 in the past decade.
If the state doesn’t pass a budget in the current special legislative session or allocate emergency funding, about 700 road projects under way across the state—worth $2.3 billion and employing 20,000 people—will come to a stop.
Some social-services agencies are operating without state help while others have closed entirely, leaving some rural communities without mental-health clinics, domestic-violence shelters and drug-treatment clinics, despite a raging opioid crisis.
Illinois has lost more residents than any other American state for the third year in a row, with 90% of the state’s counties seeing a drop in population, shrinking the state’s tax base. In 2016, a net of 37,508 people left, according to census data, putting the population at its lowest in nearly a decade.
The impending downgrade to junk status might be the final push off the cliff, since Illinois – despite a constitution that kind-of-sort-of requires a balanced budget – still borrows a lot of money each year, mainly to fund its out of control pension system. As a junk-rated borrower, its interest costs will be much higher, making its financial imbalances that much worse. Assuming that anyone will lend money to the state on any terms.

The Democrat Ode to the Welfare State. - It's been tried. It failed then, too.

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xxx

Maybe the Blues Brothers can do a concert. It worked - for the orphanage. Or maybe print

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their own money and get a leftist judge demand they accept it.

This is what happens when you run out of other people’s money.

Although I love Chicago, seems Illinois - is going to he!! because of poor leadership

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Who is in charge in Illinois. Is this the fault of a political party or what led to this fiasco.

Illinois has been run by Democrats for years. Politicians have - made promises they can't keep.

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Chicago controls the state, much like NYC controls New York. It's also a sanctuary city, lots of illegals.

The Democratic Party controls Chicago and has historically run the state (at least most of the time in recent decades).

Mike Madigan really controls things behind the scenes.

Illinois has had bipartisan trouble - for a long time

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Former Republican governors Jim Thompson and Jim Edgar — both of whom the Post-Dispatch mentioned in its editorial — were complacent, too, in pushing unfunded liabilities onto the taxpayers. Edgar’s “pension ramp” plan forced taxpayers to pay increasing contributions to the pensions systems each year starting in 1996 and still increasing today. By 2045, taxpayers will be contributing $16.8 billion.

Illinois's problems are the direct result of years of Democrat - control and promises to unions

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with unsustainable pensions.

We celebtrated our one year anniversary in Idaho yesterday, - moved away from Illinois, as

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we couldn’t take the commie nonsense anymore. Taxes are reasonable, & the sales tax here doesn’t bother us. Housing prices are good. I highly recommend it to those fleeing Dem-ruled states.

Blagojevich made promises about pensions that have to be - kept now. It's causing the state to

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go into bankruptcy. They can't even pay their lottery winners, now this.

The Democrat Thug Party has run this state for years. - It's the "Chicago way"

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Two choices; Keep feeding the monster (pay your taxes) or - starve the monster (no more taxes).

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