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[–] [deleted] 1 point 5 points (+6|-1) ago 

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[–] CowWithBeef 0 points 1 point (+1|-0) ago 

Illinois and Jersey have particularly underfunded pensions so they should be the canary in the crisis. If raising taxes works, that solution may spread to other stressed states. If the taxes instead drive away tax revenue, these states will beg for a bailout or they and more states could go bankrupt.