I think I’ve mentioned before that I’m on an email mailing list for requests for bid for the state of Illinois. I’ve noticed a trend over the last 18 months or so.
At first a few of the RFB were cancelled because no one registered to attend the hearing required under state law. Then a quarter of them were cancelled. Then half.
Today alone I’ve received at least 30 notifications of cancellation. That’s new since the state legislature’s latest refusal to enact a budget.
A lot of these RFBs are for hardware maintenance and software licensing and support. Pretty quickly the state is going to be in real trouble, unable to function.
Your first paragraph, referring to requests for bid for the state of Illinois, made me think you were talking about requests for bids on the State of Illinois. Imagine my disappointment upon reading further and discovering these were requests for bids for services for the State of Illinois.
Patience. It will come.
D – Some assets have negative value……
This was re-posted at ZeroHedge, but I have no idea of the quality of the article or original site.
Costs and consequences Of Illinois’ budget crisis
Reboot Illinois is basically Rauner’s PAC’s site so it would be expected to present the facts in the way most favorable to Rauner. However, I believe the facts presented in that post are correct. IMO they don’t emphasize the impact of the state’s worsening credit rating enough. Making the increasing interest payments means that money is unavailable for other things.
As I’ve been saying all along the state’s legislature is derelict. Their only solutions they have are borrowing (to pay operating costs, always a bad policy) and increasing taxes on a declining tax base.