Uh-Oh ! Somebody's After Your Money

"Illinois State Senate President Don Harmon, through the Illinois congressional delegation, recently requested a $10 billion public pension bailout from the federal government."

Ref: Illinois Pension Bailout

Wait a minute ! ! !  The State Government of Illinois promised to pay its State-Retirees pensions which it can no longer afford, and now thay want to take the taxes poor old DonDiego paid to the Federal Government to pay retired State employees ! ! !

Hmm, . . . DonDiego supposers the State of illinois will promise the Federal Government to pay it back.  

A Brief Recapitulation:

i. The State of Illinois promised to pay its employees a generous pension in exchange for their years of service.

ii. The State of Illinois is about to run out of monies to fulfill their generous promises.

iii. The State of illinois requests the United States Government provde "direct cash assistance" or a "low-interest loan" to cover the financial promises it cannot keep.

DonDiego calls "Bullshit !"

The taxes which poor old DonDiego provided to the Federal Government should not be given (or loaned) to a State which promised to pay its emplyees more than it can afford.  

 i. Direct cash assistance should not be given, because the US taxpayer is not obligated to pay for the Illinois school system.

ii. It should not be loaned, because a loan implies a "promise to pay it back".  The fact that the State of illinois cannot pay the pensions it promised suggests it likely cannot pay back such a loan.

Hmmmm. Roughly 1.4% of the $700 billion federal bank bailout of 2008, about which I hope DonDiego was 7000% more outraged than he is now.

It should be noted that a loan isn't a bailout, strictly speaking, unless the loan is not repaid. The writer of the article seems convinced a default is inevitable, without offering any support for that contention.

The source DonDiego cites is a right-wing "libertarian" publication. The target of its wrath is a Democratic legislator. I did a brief search of its archives and found no outpouring of righteous indignation at the Trump tax cuts for the rich that created the current record deficit.

10 billion?    For workers?    Oh, the humanity!  

Multiply that figure by 17 and you will get the self dealing “bailout” amount awarded to real estate developers from the most recent round of stimulus.    I’d start there if I were to rant about wasting taxpayer money.    But it’s a free country.  DonDiego can complain about whatever he wants.    Ain’t America great?

Don't forget Boeing whose biggest problem is the 737 Max. The 737 Max will never fly again and Boeing made incredibly poor decisions. Yet Don Diego does not get his panties all knotted up over their bailout.

Once again Kevin, until the virus hit, had tax revenues increased or decreased under Trump?  Come on Kevin, answer the question.  Come on Kevin, don't dodge the question.  YES OR NO?  Smarmy little Kevin will not answer the question.

The deficit was caused by too much spending.

Simply not true.

On the day the Trump administration released its fiscal 2020 budget, White House economic adviser Larry Kudlow misleadingly claimed that “overall revenues are up about 10 percent.” In fact, federal revenues are down since the Republican tax cuts became law.

Federal revenues were down slightly in calendar year 2018, the first full year under the Tax Cuts and Jobs Act, compared with the previous year, according to Treasury Department data. Federal receipts also were down slightly in the first five months of fiscal year 2019 compared with the same period a year ago, according to the Congressional Budget Office.

Source

Here is the data.

https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762

I'll trust the actual numbers from the government which FactCheck.org cited in the article I linked to.

Within the past several months I posted the same data from the IRS site.  Mark can find it if interested.  Mark can find accurate data comparing the disparity of coverage regarding Kavanaugh and Biden...........if interested.  I can only assume that Mark has decided not to learn the truth regarding these issues.  Mark also argues that Trump and friends conspired with the Russions, even after the Mueller report showed.

"The special counsel found that Russia did interfere with the election, but “did not find that the Trump campaign, or anyone associated with it, conspired or coordinated with the Russian government in these efforts, despite multiple efforts from Russian-affiliated individuals to assist the Trump campaign.”

I do not understand why Mueller didn't hire PJ and Mark to help with their $30,000,000 investigation.

Illinois receives LESS in federal spending than they pay in taxes.

Tennesse receives over $24 BILLION DOLLARS EVERY YEAR more in federal spending than they pay in taxes.

How about this for a solution: No more Red State Bailouts!

Source