Illinois on the Brink of Financial Disaster

Illinois, California, Wisconsin, New Jersey, New York, etc. are all near brink of financial disaster. Cutting spending as the economy rolls over is political suicide. This means the economic can will be kicked down the road, i.e. issuing more debt through support of QE(n), despite a growing number of voices suggesting change. The public will once again come to realize that the market will force the necessary changes, and it won’t be pretty.