Ah ha! Mike Madigan's budget is $5 billion out of whack

The reporting on the Illinois House Speaker Mike Madigan’s bogus budget passed on Friday by the House doesn’t seem to emphasize what needs to be emphasized: It is $5 billion out of whack.

A $5 billion deficit violates the Illinois constitution’s requirement for a balanced budget. It does nothing to get the bond ratings services off the state’s back or reduce the threat of the state’s bonds taking the last teeny tiny step into the junk cellar. It’s not the “comprehensive” budget that everyone pledges allegiance to. It provides no revenues to make up the deficit gap. It was concocted in secret and voted on without any vetting or disclosure of its details.

We again had to rely on the Illinois Policy Institute to bring the obvious to our attention. Said Craig Lesner the group’s budget and tax research director:

Illinois House Speaker Mike Madigan has for the first time officially presented a fiscal year 2018 budget plan, which spends $36.5 billion. Madigan’s plan overspends by over $5 billion more than what Illinois currently takes in revenues. (Read more)

Yet the budget won a preliminary 90-25 vote in the House on Friday with the support of some Republicans, their consciences squeezed by the crisis that Madigan created into doing what they thought was the responsible thing. (I pointed out this strategy in an earlier post.)

Obviously, the budget hole would be filled with a tax increase. At least the Senate-passed budget was honest enough to admit it. As usual, Madigan is playing games. But the ratings services won’t fall for it. Look for a bombshell from them after the Fourth of July break.

Madigan keeps saying that not a single structural reform to address the state’s fiscal needs will be allowed in his bill, a senseless demand that Democrats blindly follow. So, the question remains: If the budget passes without any reforms, what will he do later to fix the state’s disaster?

The answer is obvious: Nothing.

dennis@dennisbyrne.net

www.dennisbyrne.net

 

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  • Has Governor Rauner even presented a budget? Just wondering. And if there is a need for structural reform, couldn't that be presented to the Illinois General Assembly separate and apart from any budget? And what's to prevent Governor Rauner from presenting such proposals for structural reform himself?

    Yes, they more than likely would be voted down, but then the governor could take the issue to the voters in the next election where THEY could decide for themselves who is right and who is wrong!

  • In reply to HHH Is My Hero:

    The voters have already decided who is right and who is wrong: both.

    And they are voting with U-Haul and Mayflower and United Moving.

  • In reply to HHH Is My Hero:

    Rauner has submitted a budget only if you call an document including nearly $5 billion in revenue from "Working together on 'grand bargain'" a budget.

  • Looks like the budget Gov. Rauner submitted. If you look at page 30 of his Illinois State Budget, Fiscal Year 2018, you will see that he would balance the budget only by adding to revenues $4.572 billions to be derived from "Working together on 'grand bargain.'"

  • Also what Dennis missed is what was voted on was "an amendment" and puportedly "a test vote." The vote that was promised for Saturday was put off unrtil Sunday. Then Craig Wall now of Channel 7 says that the Senate won't be in session until Monday.

    jnorto is also essentially correct that due to the Constitutional single subject rule, at least one bill is entitled "revenue" and several others are entitled "appropriations." As illustrated in the Wirtz v. Quinn case, a single bill would be unconstitutional. So the Illinois Policy Institute published a deceptive article.

    I'm not going to accuse anyone else of being the loon who posted 25 Breitbart links per post, but I'll agree with jnorto that IPI is not a reliable source, but for other reasons.

  • As I indicated, the AP has a procedural analysis that is congruent with mine, not the IPI's.

    "The speaker of the Illinois House on Saturday scheduled a key vote on a multibillion-dollar revenue package...The bills are SB6 and SB9."

    Since it says Rauner is on board if he gets his structural reforms, why now all the Durkin saying he needed more negotiations, but then complaining that the vote wasn't Saturday? The time for negotiations really ended about April 30.

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