Gov. Pritzker throws in the towel on Illinois pension reform

We can't do it, why even try.

That was the essence of what Illinois J. B. Pritzker said concerning the possibility of reforming the state's drowning pension fund by relaxing the unreasonable constitution guarantee that gives some retired government employees more money than they made when they were working.

Pritzker, it can be said with more certainty, is in the hands of the public employee unions as much as House Speaker Mike Madigan, the Democratic party minions and taxpayers.

Reports Crain's Greg Hinz:

Insisting that "no silver bullet" exists to slay Illinois' staggering public pension problems, Gov. J.B. Pritzker today flatly rejected the idea of tying constitutional pension reform to his proposed graduated income tax.

In an appearance at an Economic Club luncheon, Pritzker said he understands why some factions are pushing a "shared sacrifice" approach in which voters next year would vote on two amendments to the Illinois Constitution, one allowing his so-called "fair tax" and the other revamping a clause which locks in current payments for government workers.

But that won't fly, either fiscally or politically, the Democratic governor asserted.

After reading Hinz' article, it appears there's no bullet, golden or otherwise. The little that Pritzker says might take care of the problem is a joke.

As is said by addicts, "You have to hit bottom before you can save yourself." Illinois hasn't hit bottom yet, but listen for the splatter that certainly will come.

Check out the Better Government Association's database of public employe pensions here.

dennis@dennisbyrne.net

www.dennisbyrne.net 

My historical novel: Madness: The War of 1812
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  • Pritzker signed in June created licenses for new casinos in Chicago, revenue to help pay down its police and firefighter pension debt LiteBlue.

  • In reply to Graham1M:

    Indeed. But will that more than whittle down the over $200 billion pension short-fall?

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