The New CS Board

[jumanji0881]

This Is How A State Goes Bankrupt, Illinois Edition : https://www.zerohedge.com/markets/how-state-goes-bankrupt-illinois-edition

My comment : The (really, really big) chickens coming home to roost

Excerpt:
The last remaining escape hatch for the worst-run cities and states is a massive (easily multi-trillion dollar) bailout by the only remaining entity with access to that kind of credit, the federal government. After the upcoming election, whichever party ends up in charge will face the specter of bond defaults and mass layoffs in Illinois, California, New York, New Jersey, Connecticut, and Kentucky, among many other places.