Illinois Budget: What it Does and Doesn’t Do (Surprise Giveaway to Muni Bondholders?)

Mish Talk:

Illinois now has a budget, the first in three fiscal years. An excellent writeup on The Stump entitled Illinois Financial Disaster: Even More Reactions to the Budget explains what passage of the budget does and does not do.

Here are some links mentioned by The Stump and a few additional links and comments by me.

The Budget Fixes Nothing

Mark Glennon at Wirepoints comments on the Many Ways Illinoisans Won’t Pay Higher Taxes

Cont....