You know the old saying, “when you’re in a hole, the first thing to do is stop digging”?
Here in Illinois, we do things a little differently. What’s the harm in digging a little more?
We’re in debt, have a lousy credit rating, need a big bucket of cash to fund our pensions — but the instant ADM hints they’d locate 100 corporate jobs out-of-state, our top-notch legislators are scurrying to give them tax breaks.
Of course, it would be foolish for ADM to locate anywhere else but Chicago, but it’s a knee-jerk reaction. It’s embarassing, really, to have a legislature this incompetent.
UPDATE: Oops. I didn’t realize the above article was behind a paywall; apparently when you land on it due to a google search you can read it without problems, but the minute you link to it, you run into the paywall. (Wonder how many other times I’ve referenced paywall’d articles without knowing it, and with too small a readership to tell me?)
Anyway, here’s an alternate article with equivalent content.