It’s called “capital flight” and it’s a given under socialism.
Illinois is drowning under a mountain of debt, unpaid bills and underfunded pension liabilities and it’s largest city, Chicago, is suffering from a staggering outbreak of violent crime not seen since gang wars engulfed major cities from LA to New York in the mid-90’s. Here is just a small taste of some of our posts on Illinois’ challenges:
- Illinois Pension Funding Ratio Sinks To 37.6% As Unfunded Liabilities Surge To $130 Billion
- Illinois Unpaid Vendor Backlog Hits A New Record At Over $16 Billion
- The State Of Illinois Is “Past The Point Of No Return”
- “What The Hell Is Going On In Chicago” And Other Highlights From Trump’s Speech To FBI Grads
Given that, it’s hardly surprising that the Prairie State lost a net 33,700 residents in fiscal year 2017, according to the Census Bureau. Also not surprising is the fact that the mass exodus from Illinois was the largest of any state in the country with lower taxed, lower cost of living states like Texas and Florida posting the biggest gains.
Via ZeroHedge