Economic Death Watch In The Land Of Lincoln

How perfect is it that “the land of Lincoln” is leading the way in dramatically exposing the unsustainable evil at the foundation of the American economic system?

For those of you who haven’t heard yet, Illinois is teetering on the edge of default and/or bankruptcy.

As reported by John Rubino and posted at ZeroHedge:

It’s been a long time coming, but Illinois’ slow-mo financial disaster is now front page news. A few recent examples:

Roadwork Could Shut Down Across Illinois Due To Budget Impasse

Roadwork across Illinois may grind to a halt at the end of June due to the continued state budget impasse, a representative for the Illinois Department of Transportation (IDOT) announced Wednesday. IDOT will be unable to pay contractors on July 1, unless the state passes a stopgap funding measure.

IDOT has told contractors that “all construction work is to shut down on June 30,” according to a statement. “Contractors will be advised to secure work zones to ensure their safety during any potential shutdown.”

Illinois has gone almost two full years without a state budget, which has hit education funding throughout the state and generated more than $14 billion in unpaid bills.14

Summer is both ...

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