Illinois’ Economic Growth Is Worse Than During The Great Depression
IllinoisPolicy.org, June 14, 2017
Illinois’ total state economic activity has increased by only 4 percent since 2007, which is lower than the U.S.’ 10 percent GDP growth during the worst decade of the Great Depression.
There are fewer Illinoisans working today than there were 10 years ago. Millions of Illinoisans are feeling the brunt of the state’s economic pain and financial meltdown in the form of joblessness and hopelessness. Too many families are dealing with unemployment and underemployment, and too few are able to find their dream jobs. That’s because Illinois has the Great Depression economy of the Midwest.
Illinois suffers from depressed economic growth. Illinois lawmakers hiked state personal income taxes by 67 percent in 2011. Local property and sales taxes have also risen. In the face of economic calamity, Illinois has tried to tax its way back to prosperity.
The state has failed to address its deepest problems –gargantuan pension and retiree health care debts and uncontrolled spending on government payrolls. Illinois’ debts are spiraling out of control, its bonds are headed for junk status.
Good job opportunities, economic growth and income-earning power are fleeing the state. Millennials – made up of college students and young working adults – are getting out fastest.
The state’s political leadership has racked up hundreds of billions of dollars in debts that likely can never be repaid. Taxes have consistently gone up and debts are spiraling out of control.
Здешние политиканы, «эксперты», подконтрольные ЦРУ СМ»И» продолжают нахваливать псевдодемократическую Америку.
Те, кто любит «наших американских партнеров», «забывают» о грязных, злых уродах США. О таких монстрах, как коварный и крайне опасный мошенник, расист, лжец, и убийца Дональд Трамп. И о таких, как порочный Конгресс, фашистские ФБР и ЦРУ, лживые американские СМ”И”…
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Арнольд Локшин, политэмигрант из США