Is Bankruptcy coming to Illinois?

Goodbye, Illinois: Residents are leaving for other states – Chicago Tribune.

Even on days when the temperature is above zero, Illinois struggles to keep people here. They’re leaving, in droves, for states with sunnier economic opportunities..

New census data and other figures reveal the cold hard truth: More people are moving away than coming, tipping Illinois last year into the dreadful category of states with declining populations. From July 2013 to July 2014, Illinois shrank by about 10,000 residents in all, joining other states in decline such as West Virginia, Connecticut and Alaska.

Where are they going?

The three states that attract the most Illinois residents are Texas, Florida and California, according to the Illinois Policy Institute, citing 2010 tax records, the most recent available. The moving companies see a lot of people heading for Oregon and North Carolina.

The article doesn’t delve into Illinois’ finances but they are abysmal. Combine losing population with their debt and the potential for a financial “death spiral” is high.

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