Thursday, October 15, 2015

Illinois Will Issue IOUs to Lottery Winners $600+

___The state of Illinois is short of funds and is technically bankrupt. Lottery winners of more than $600 will be presented with IOUs rather than cash. At least one winner will sue the state for their money.

___Many realized that gambling was an evil, and that there would be eventual consequences of lotteries. One obvious consequence has been the cost of college. Lotteries making college "free" has dramatically increased the costs of everything college-related (ECON 101: an increase in demand while supply remains static means an increase in cost).

___The state is technically bankrupt because its progressive socialist policies have dramatically increased spending, and the state is running out of other people's money.

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