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Sometimes I tell people I’m a Michigander, even though I have lived in Illinois for the past 12 years. While Michigan may always remain near and dear to me I am a de facto Illinois citizen. I’ll be the first to tell you that this is often a major embarrassment.
Recently, the state of Illinois finally passed what I would describe as a “Band-Aid” budget. Politicians largely celebrated this move and patted themselves on the back, but their budget does very little to solve the gaping wound that is the state of financial chaos in which Illinois currently finds itself.
As you may or may not know, Illinois recently went an entire fiscal year without a budget. This standoff made previous budget delays (18 days in 1991, multiple delays of several weeks in the 2000s, and the bitter standoffs of recent years) look like small blips on the radar.
While there are many reasons for the state’s financial woes – corruption, closed door deals, gubernatorial scandals, and an underfunded pension system – many of the problems can be traced back to improper and unrealistic budgets.
To read the rest of this piece and find out how you can get your finances back on track, head over to Millennial Moola. Be sure to check back here on Thursday for a collaborative article on dining out without breaking the bank written by me and Mrs. Superhero.