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posted: 8/16/2012 2:02 PM

Our state needs better leaders

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You ended your July 16 editorial ("An endless saga of debt and inaction") with questions. I believe that with those questions you communicated extreme frustration and a sense that you do not know what to recommend. I do not believe our elected officials and those employed by government would follow what would be common sense recommendations anyway -- that is, slash spending and stop expanding government services and programs. Everyone knows that we do not have the money for this stuff. They will not do what is necessary because it is against their self interests.

What I believe is that this negative economic spiral will end on its own. The state will run out of cash and the state will not be able to borrow (either because no one will lend it any more money or the lenders will raise interest rates so high that the state will not be able to afford to borrow). The state will then start to default on its obligations. We will have in effect a bankruptcy of Illinois. How long before a default? It could be next year, in three years or 10. I do not know when, but what I am confident of is that it will happen.

I feel terrible to be so negative about Illinois' financial future. What a bummer it is to feel pessimistic. This is a wonderful state. Its taxpayers deserve much better leadership and government.

Joe Romanowski

Arlington Heights

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