Comment: The facts and circumstances in Puerto Rico are very different from Chicago and many other municipalities in Illinois, but you can expect eventually the same three forces fighting it out the same way here: 1) bondholders with lots of doe and political influence, 2) unions and pensioners also with lots of doe and political influence, and 3) citizens who want basic services who are not well represented or organized.

The email below seems to be getting forwarded around widely. It’s from Jason Gonzales who is a Democrat running against House Speaker Mike Madigan. This guy looks serious and has a great resume. This will be interesting! I’m taking on an ambitious and desperately needed project: I’m running against Illinois House Speaker Michael J. Madigan, a 45-year incumbent who has been the longest serving House Speaker in US history and bears much of the blame for our state’s dire financial condition and Illinois’ $113 billion pension crisis. There has never been a better time to run against him. Right now,

Comment: A wonderful case study of what’s happening in small towns around the state. Murphysboro, in Southern Illinois, has a population of about 8,000 and a combined police and fire pension deficit of about $8 million. One alderman saw what’s happening and spoke up, making Murphysboro different — most of these towns simply don’t understand their pension problem. (But then, Chicago and the rest of the state don’t, either.)