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Free Market Friday: Lessons from Illinois

June 16, 2017 - 8:05am CDT

Oklahoma just completed, with much gnashing of teeth and moaning, a budget year with a shortfall of nearly $1 billion. Imagine, though, facing deficits that total $30 billion or more – and that’s before you even start discussing a $250 billion pension debt.

Such is the case with Illinois, where lawmakers haven’t even managed to pass a budget since 2015, where they have failed to balance the state budget every year since 2001, and where annual tax increases have failed miserably to keep the state afloat.

Read the rest over on The Journal Record.