Give me a couple of minutes to review the Illinois pension problem.
Our state pension is now carrying a $130 billion dollar liability because for decades the state didn’t pay their share.
The Illinois Supreme Court ruled that the 1970 Constitution’s pension protection clause which states that current retirees and current members of the pension system cannot have their pensions diminished or impaired.
So, put those two facts together and you must come up with the conclusion that the debt must be paid.
Revenue must be raised.
Try taxing the rich for a change.
Better Government Association policy and civic engagement director at the Better Government Association writes a Sun-Times column which starts with the facts I stated but then ignores the solutions.
Instead she talks about State Representative Matwick’s plan to move future employees to a 401k.
The benefit of such an idea for future state employees aside, will this help pay off the debt?
Nope. Not until all current retirees are dead.
I think I get what she means by better government.