By: Mark Glennon*
Pension problems ignored compound over time. Illinois would be much better off had it listened to early warnings. Few, if any, journalists warned about them as firmly and early as Terry Savage. As she wrote yesterday, people called her a “scaremonger” when she wrote about the pension problem years ago and, because she was ignored, we face the music today.
Worse, that “scaremonger” charge against pension alarmists continues today. Politicians use it to justify kicking the can down the road. Journalists who don’t understand ascribe pension criticism to politics. Unions use it to avoid pension reform. Meanwhile, the crisis continues to compound.
I wrote twelve years ago that Springfield had to deal with “the crushing reality that the state is broke.” Our problems were readily fixable then. Today, the fear is whether they are insurmountable.
*Mark Glennon is founder of WirePoints and a business consultant.