If you thought it was fun bailing out California with federal tax dollars, just wait until you bail out Illinois. Well, we've been wondering how Blagojevich and the legislature planned to avoid bankruptcy. I think a lot of us figured that California would go bankrupt before we did (maybe slightly before, but before) and when they got bailed out, it probably caused Blagojevich a momentary panic.
The thing you have to understand about Rod Blagojevich is that, at least in my opinion, he thinks he's doing a good job. I think he still thinks things could turn around in the next few years and people would wake up to what a great job he's been doing for the people--and start talking about him as Presidential material again.
Governor Says States Need Help to Survive Financial Crisis
10/11/08 @ 7:53:57 pm
Governor Blagojevich has written a letter urging Congress, the Secretary of the Treasurer and the Federal Reserve Chairman to work together to help the state survive the financial crisis. Like many states, Illinois relies on short-term borrowing to manage cash flow and pay for services, such as Medicaid payments and payments to school districts. In the letter, Blagojevich warned that some of these services may have to be cut or even eliminated if a resolution does not come quickly.
The letter, in part, states, "During past periods of economic uncertainty, Congress led the charge to provide fiscal relief to states and help ensure that working people get the assistance they need".
Blagojevich used the 700-billion dollar bailout as an example, saying that American families need that type of assistance and stimulus to help the economy get back on track.