Perfect Storm: Unwitting Meteorologists & Witless Predictions.
Perfect Storm: (Noun)
A critical or disastrous situation created by a concurrence of factors (www.merriam-webster.com).
Like many other legislators’ latest email correspondences,
Senator Jason Barickman’s November 15th announcement of an upcoming
return to Springfield for “pension reform” sounds like a desperate call to
heroism for the historically uninformed.
The Senator from Streator, like many of his Springfield
colleagues, eagerly anticipates something very different happening in the
December call-up to action by Speaker Madigan and Senate Leader Cullerton. In the kind of clipped and terse language
usually found in orders to report to the front, Senator Barickman’s review of
recent battle and his anticipation of upcoming action sounds almost exciting.
“Illinois’
four legislative leaders may be drawing closer on an agreement that could
address Illinois’ massive public pension debt.
The House Speaker, Senate President and the Republican Leaders in each chamber
have told us to be prepared to return to Springfield the first week of December
for a possible vote.
“In
June, pension reform negotiations were handed over to a bipartisan Conference
Committee, which worked for months exploring details and seeking common ground.
Now, those discussions have been handed back to the state’s four legislative
leaders.
I’ll
do my best to keep you up on the latest…”
Meanwhile,
as Senator Barickman and his Capitol crewmates feverishly prepare, a confluence
of dangerous fronts appear ready to bear down upon the public sector workers in
Illinois, and help Barickman and others move into deep, unconstitutional waters
without reservations.
Storms to the East: Bond and credit ratings
agencies are warning that further down grades can be expected if there is
nothing done about the debt issues in Illinois.
By the way, as Ralph Martire of
the CTBA would point out, the rating companies do NOT call for the raiding or
impairment of pensioners promised and earned benefits to improve credit ratings
in Illinois. They are describing a lack
of revenue to fix a serious debt problem that has become systemic. Fix the revenue stream, not by stealing money
from someone else.
Strong winds to the South: The erroneous concept (as
per Barickman)
“Illinois holds the record for the
worst-funded public pension system in the nation. A system that is about $100
billion in debt and only has assets to cover less than 40% of the debt the
state owes. The state’s poor pension funding has been a major contributor to
Illinois having the worst credit rating in the nation.”
In
fact, the reasons for this are many, but none are more significant than the
theft or nearly $32 billion over decades from the pension funds by the General
Assembly. And let’s not forget that
Senator Barickman’s (and many others’) insistence to hold to the feckless RAMP
pay-back scheme of 1995 has made it impossible if not improbably that they can
escape the debt they’ve built themselves into through theft of public worker
funds. Fix the debt problem by amortizing the debt, and pay back the fully due
amount, not the lesser interest. The end
result in two years will be no different than if Illinois stayed on the “ramp,”
and it will diminish from there.
High seas to the North: The cold, clinical argument that there is
strength in numbers. Senator Barickman proceeds; “Although there appears to be
progress toward a proposal that all four legislative leaders can urge their
members to support, no final decision can be made until the ideas under
discussion are “scored” by financial experts. That’s a painstaking process that
relies on complex financial projections as to what the impact of each
individual component may be on the retirement systems over the coming decades. Those
calculations are then used to arrive at an estimated overall savings. Senator
Barickman makes it all sound like a clean surgical strike, not a decimation of
families or futures or their dreams. Remember that whatever their take from the
public workers’ promised futures (from which they’ve already stolen), the
amount will never be enough to prevent their return for more, according to
Ralph Martire and earlier actuaries who have determined that even the most
draconian of cuts will fall short of Illinois’ structural revenue deficit…and
they still have not dealt with the unfunded liability of nearly $100 billion. Fix
the revenue stream and work slowly back to fiscal health.
Crazed Captain on Deck: Stumping about on deck like an Ahab on a
mission from a deranged God, Governor Quinn has taken on Paul Vallas for his
First Mate, which leaves little hope for anyone expecting a life raft
later. Vallas is an expert on Disaster
Capitalism, a man who literally rode the waves into New Orleans to create one
of the greatest Charter School exploitations of an impoverished and decimated
land area in our country. Even today,
his New York successor is dealing with the struggling public school systems and
miserable scores after the business model’s culling of the cream into specialty
schools for the Recovery School District.
Quinn has ostracized the very people who put him into office, Vallas
vilifies the very people who put Quinn into office, and Rauner/Brady/Dillard
(sorry, mixing metaphors here) are the Tinker, Evers, & Chance of the Civic
Committee of the Commercial Club of Chicago. And don't forget, the Governor's eventual need to come clean on a permanent 2% tax increase, and his fears of an Illinois Is Broke mutiny. Fix it by running an independent against the paid for or disguised
politicians in Illinois. Fix it by moving to a progressive income tax. Fix it by never pretending that we don’t know what is really going on here: the scapegoating of public employees for the burglary of their hard earned earnings
by politicians.
Call your Representative and
Senator. Tell them to fix it the right
way, the moral way, the constitutional way.
1-888-412-6570.
It's way to late for a political solution. The democrats are going to go along with the cuts. If they don't, the republicans will win the election(s), with the battle cry "the democrats won't fix it, we will."
ReplyDeleteNow is the time for the unions to put their big gun labor lawyers on alert. The unions offered compromise, and we saw what happened. The legislators are demanding MORE, MORE, MORE. This is proof that if the unions compromise, the state will come back year after year demanding more cuts to the pensions.
The only thing that can be done when/if any cuts are passed, is to fight it in court with everything we got, try to get some help from the national unions if possible. Don't skimp on it, we have to fight this unconstitutional action down to the wire! Just because something is unconstitutional does not mean the case is automatically won. The other side is trying to steal 150 BILLION from retirees and future retirees. You can bet they will not hesitate to spend millions in (taxpayer money) legal fees to win their case.
A similar case in Arizona went to their SC a few years ago. The unions vehemently fought the cuts, and won. The state then gave up trying to steal Arizona public pensions, and moved on. We must be sure that no " legal trickery" by the state of Illinois is used to cheat retirees of their earned pensions! We can be sure they will try!
And all of this as the storms of healthcare changes swirl about us. It is indeed the worst of times.
ReplyDelete