Can a Country run without budget? Can a State government run without budget? What happens when a State has a 15 billion dollar of unpaid billls?
Read on what happens to a state when it can no longer pay its debt.
In the United States, whole States are not doing well in terms of this new fiscal year. As is being a reported and trending online, the State is heading into a third straight fiscal year without budget. Illinois's General Home debt is being called "Rated Junk " . By the government rating it a "junk state" it means a state's bonds will become more expensive to sell.
Illinois State Controller, Suzana Mendosa stated :
the States unprecedented fiscal crisis is quickly taking a dangerous turn...Two things are set to happen on Friday. Number one the states fiscal year will end. and the governor and the legislator need to agree on a budget at the end of Friday...
Watch videos listed below to learn more about Illinois and its government states crisis.
Illinois Will COLLAPSE! Guess Who Is Next! Say Goodbye to Your Pension Fund
HOW DEMOCRATS DESTROYED ILLINOIS IS UNBELIEVABLE || WATCH
Hopefully there will be a solution to this crisis. Perhaps finding a way to sell junk bond may be expensive in the short run but it may be a great opportunity to buy cheap. A great buyers market if the the economy recovers full speed in the short or long run.