Illinois

Connecticut Capital Hartford Downgraded To Junk By S&P

"The downgrade to 'BB' reflects our opinion of very weak diminished liquidity, including uncertain access to external liquidity and very weak management conditions as multiple city officials have publicly indicated they are actively considering bankruptcy," said S&P Global Ratings credit analyst Victor Medeiros.

Obama Returns To Political Spotlight With Speech On Gerrymandering

After six months of vacationing at some of the most lavish resorts on earth, including Richard Branson's own private island in the British Virgin Islands, Obama, as it was foretold by Eric Holder many months ago, is apparently ready to make his valiant return to the political spotlight.

Mnuchin Kills Idea Of Tax Hike For The Wealthy

Treasury Secretary Steven Mnuchin said Sunday the White House wasn't considering a tax increase on wealthier Americans, dismissing a report that Steve Bannon had floated the idea as a way to pay for tax cuts for middle-income taxpayers. "I have never heard Steve mention that" Mnuchin said.

"It's Too Late" - 7 Signs Australia Can't Avoid Economic Apocalypse

"Millions of ordinary, financially unprepared, Australians are now at the mercy of the international markets and foreign policy makers... Unfortunately, the window for taking pre-emptive action with an orderly unwinding of structural macroeconomic imbalances has now closed..."

Chicago's Terrible New Plan To Force High School Kids Into The Military

A plan approved in May is set to take effect soon, forcing high school seniors to either be enlisted in the military, have a job, be enrolled in a gap-year program, or have a college acceptance letter before the Chicago public schooling system will give them their diploma. The obvious consequences of this new policy are problematic. Still, Emanuel doesn’t seem to care.

Illinois Tax Rate Soars 32% After Senate Overrides Governor Veto

In a whirlwind of activity on America's nation holiday, just around noon, first the Illinois Senate voted to approve the House tax hike and spending bill, then shortly after, state Gov. Rauner - just as he warned he would - vetoed both the income tax increase and the budget bill and budget implementation bill, only to be himself overriden moments later by the Senate, as it took the drastic measure to end a record budget impasse.

Chris Christie Signs Budget Bill, Ending New Jersey Government Shutdown

After a three day state of emergency and government shutdown, on Tuesday morning New Jersey Gov. Chris Christie signed a compromise budget bill ending the state shutdown that became an embarrassment for the outgoing governor when he was photographed lounging on a beach that had been closed to the public for the holiday weekend.

Illinois House Approves Historic 32% Tax Increase, Governor Vows Veto

Late on Sunday evening the Illinois House approved the most controversial element of a budget package, a tax hike which will increase the income tax rate by 32% from 3.75% to 4.95%, and the corporate income tax rate from 5.25% to 7%, to try and end a historic budget impasse. The bill passed 72-45.