Illinois Is A Drag On US Economy, Continues To Be A 'Taker' From Federal Govt; New Report Shows
A new report says Illinois, with the fifth largest state economy in the nation, is helping pull the country down.
It should come as no surprise, therefore, that other new reports continue to show that Illinois is a “net taker” in terms of its balance of payments with the federal government. Five years ago, Illinois gave up its long-held claim that it sends the federal government more than it gets in return, and that “net taker” status continues today.
Succinct evidence of Illinois’ underperformance is in the June report by COGFA, Illinois’ bipartisan Commission on Government Forecasting and Accountability. In that report, COGFA set out to compare Illinois’ economic performance to the rest of the nation since the start of the COVID pandemic. They chose four metrics to do so: 1) Real Gross Domestic Product (GDP), 2) Total Nonfarm Payroll Employment, 3) Unemployment Rate, and 4) Total Personal Income.
The results are damning for Illinois by all four measures, with the state ranking from 45th to 47th on each among the states:
https://www.zerohedge.com/political/illinois-drag-us-economy-continues-be-taker-federal-govt-new-report-shows