Column: ‘The Pension Bill Has Something For Everybody’: A Look Into How Illinois Lawmakers Justified Their Pension Benefit Boosts – Forbes

"But what more can we learn from what the senators and representatives themselves said about the bills? Their comments are quite instructive, as, repeatedly, they deem bills 'paid for' solely because there exists a plan to fund them by future generations, and they congratulate themselves for their willingness to provide additional benefits to public employees."
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NoHope4Illinois
2 years ago

Other states I have lived in, Va, NC, OH, do NOT operate like this – full transparency with accounting, and followup tracking. The records show IL essentially ‘wings it’ based on politics, i.e. blank check legislation. It’s stunning how no one in IL government is at least embarrased by the ‘shoe box’ process of spending. It’s near impossible to control- I guess that was the idea.

Last edited 2 years ago by NoHope4Illinois
P. T. Bombast
2 years ago

While inflation continues to run, pensions will be paid in devalued dollars. This will lead to calls for COLA increases which seem likely to make things worse if legislators cave. During the last great depression bankruptcies of municipalities reached an all-time high, however, so eventually we may have that to look forward to! Once deflation replaces inflation, the Fat Egg will fall off the wall and they won’t be able to put anything together again.

Fed Up Taxpayer
2 years ago

They are making a pretty big assumption that future generations will want to stay in IL.

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