patrick.net

http://www.chicagobusiness.com/article/20180126/NEWS02/180129902/illinois-ponders-pension-fund-moonshot-a-107-billion-bond-sale
If this goes down, we might see our first bankrupt state in our country. I don't get how they expect to produce income on the spread of the borrowed money vs. what they invest. IL already basically borrows at some of the highest rates in the country for a government body.

This is literally the equivalent of taking a cash advance on your credit card at 20% interest and then expecting returns of 30%. There's almost no scenario where this works out of IL citizens or the bond holders.

This is another reason I hate the back and forth on Trump. In the next 3 or 7 years if Trump is elected again, he will not even remotely have as much impact on my finances as my state legislative branch does. Next stop on the IL tax train is double digit income taxes. That will literally cost me $10k+ if we go 10% plus on IL income taxes. This is a when not if conversation. Thank god if it gets bad enough I can easily leave.