Realcent.org

So the state is soon to be bankrupt.

Trump is apparently sending like 40 feds to Chicago to deal with all the nonsense there.

Are these events connected? How are these people preparing for the potential fallout of this Illinois BK.

What could possibly happen if Illinois becomes insolvent? Is the place in the process of being busted out mob style?
Would any of you buy Illinois debt?

This will be interesting.

Nearly all of their problem is in Chicago. Most of the rest of the state is willing to dissolve and merge with the surrounding states!

I'd guess a bailout similar to what is happening to PR or however different because it is a state instead of a territory. I wouldn't be carrying any IL debt.

My question is what if the state or rest of the state dissolved and didn't merge?

A state can't secede, but the rest of the states can kick one out.

Check your Constitution. "What isn't prohibited, is allowed," 10th Amend.

I have no idea. One thing that sticks out to me though is it isnt the only state with major debt issues. I spent a bit on this the other night. Based on debt per GSP (gross state product) there are several states worse off then illinois as of I think 2014. Can we dissolve 10-20 states? Seems doubtful. I cant imagine letting that many leave the US either. What would happen if all that debt and liabilities fell to the US gov? Like other issues we face, a solid number of states failing appears inevitable. So I guess we will find out.

Looks like they're just going to tax us some more. Illinois solution to everything. Honestly, I don't mind $1000 more a year in taxes if they start making their payments to the schools. Our local superintendent, who doesn't bluff, was suggesting that we may have to close doors this fall if the state doesn't start making its payments.

I know that the long term effect of tax hikes is more economic woes, but in the short term, it will be good to create a little stability, at least for a short while.