Ted was on WJPF earlier this week with Tom Miller discussing the role Gov. Jim Edgar had in creating Illinois’ pension crisis. He also discussed the can-kick “solutions” politicians are going to promote in the coming months.
Just like Edgar and Madigan back in the 90s, lawmakers today have no intention of actually fixing pensions by passing real reforms. They’re planning on a reamortization and new pension obligation bonds that will only kick the pension problem further down the road. Illinoisans’ children and grandchildren will be stuck with an even bigger crisis – and a bigger bill.
To better understand Gov. Edgar’s role in the pension crisis and why reamortizations and pension bonds don’t work, read the following:
- Gov. Edgar’s starring role in the pension crisis: It’s bigger than just the “Edgar Ramp”
- Special Report: Illinois state pensions: Overpromised, not underfunded
- Rahm Emanuel’s latest can kick: Borrow $10 billion for Chicago pensions
- Martwick’s reckless proposal to borrow $107 billion in Illinois pension bonds