Illinois Governorship (Chicago, Washington, Time: home, high school, move)

[LeotheOrangeCat]

Barrack will be busy being a US Supreme Court justice.

[Hiruko]

Originally Posted by IrishIllini

Illinois Governor Bruce Rauner (R) isn't up for reelection until 2018, but I figured it's never too early to start thinking ahead. How do you feel about Rauner so far? No doubt he's trying to make structural changes. Do you hope he follows through and seeks reelection? Who are some other possible candidates from both parties you could see making a run for the Governorship? Pat Quinn ?

Not saying he'd be up for the job by any means, but would you support Barack Obama if he decided to run?

I hope for the impossible. I hope that the people of Illinois elect a General Assembly with a Republican majority for Governor Rauner to work with.

[chet everett]

Originally Posted by dtcbnd03

Oh my God. That would be the worst scenario of all time. I'm just amazed that people still back Madigan after 30 years of running Illinois into the toilet. I realize that Jim Edgar started the whole underfunding pension mess in the early 90s but that was backed by Madigan every time with Edgar, Ryan, Blago, Quinn and now Rauner. There's no one I want out of office more than Mike Madigan.

btw - i voted no on Obama for gov.

Technically speaking the pensions offfered by Illinois to governmental workers have really NEVER been "funded" in the way that private firms are required to earmark such things. The issue was known to both sides from essentially Day One of the state offering pensions. In fact, the provisions to lock-in pension benefits were part of the debate at the 1970 Illinois Consitution Convention -- Pension debate at 1970 Constitutional Convention echoes in today's crisis - tribunedigital-chicagotribune

It is entirely true that had there been other alternatives offered the state would not be on the hook for billions in promises based on insufficient set-asides.

The effort of Jim Edgar to try to plan out a path that would at least make the plans solvent without bankrupting Illinois was based on too many rosy projections and too many "kick the can down the roads" that future legislators would stick to an ever increasing schedule of set asides.

Current projections that factor in the new much more realistic modest returns that safe investments pay show the shortfalls to be ever larger -- US public pension system facing $3T funding gap: report | TheHill

What is unique about Illinois in the craven mastermind that dream up these schemes continues to profit from his criminal efforts involving shifting taxes from his clients onto regular home owners and he uses his position to block any reforms that would deprive him and his party on power:

Mihalopoulos: Mike Madigan should show us the money and release his tax returns | Chicago Sun-Times

Madigan's Democratic lawyer sues to block redistricting reform referendum - Chicago Tribune

Madigan uses war chest to sway vote - Chicago Tribune

[LeotheOrangeCat]

Madigan's voted in favor of pension reform. But the reforms have been blocked by the IL Supreme Ct. and the constitution. Before Rauner took office, it may have been possible to reach a bipartisan consensus on a costitutional amendment. But now the atmosphere is too toxic.

[deeman7]

Originally Posted by LeotheOrangeCat

Madigan's voted in favor of pension reform. But the reforms have been blocked by the IL Supreme Ct. and the constitution. Before Rauner took office, it may have been possible to reach a bipartisan consensus on a costitutional amendment. But now the atmosphere is too toxic.

They knew when signing that 'reform' bill that it was unconstitutional. The reduction in COL increases meant the retiree would be getting a reduction in their pension.


Article XIII, Section 5. Pension and Retirement Rights Membership in any pension or retirement system of the State, any unit of local government or school district, or any agency or instrumentality thereof, shall be an enforceable contractual relationship, the benefits of which shall not be diminished or impaired.


All new state employees and lawmakers etc should pay into their own 401k type retirement plan and pensions should not be offered to new employees (this already may be the case?). Pass a law prohibiting a government entity from shorting pension payments. Recalculate how final pension payouts will be determined. Renegotiate with unions to make sure employees are paying a fair portion into their retirements.

[chet everett]

The actuarial cost of the existing system is already so out-of-whack with legions of do-nothing lawmakers and insiders that intentionally stacked their pensions to milk hundreds of thousands if not millions in retirement and the State of Illinois already is unable to add to its existing work force, there is little reason to think that a new defined contribution system would do anything to help the situation.

Need to rewrite constitution, start over.

[dtcbnd03]

A defined contribution is a million times better than a defined benefit plan. I can name dozens of broke pension plans. I can not name one underfunded 401k plan. Best solution is to require that every American have a 401k plan and then force them to contribute 10% of their income towards that plan. Then you don't need pensions, social security, etc.

[BRU67]

Originally Posted by IrishIllini

Illinois Governor Bruce Rauner (R) isn't up for reelection until 2018, but I figured it's never too early to start thinking ahead. How do you feel about Rauner so far? No doubt he's trying to make structural changes. Do you hope he follows through and seeks reelection? Who are some other possible candidates from both parties you could see making a run for the Governorship? Pat Quinn ?

Not saying he'd be up for the job by any means, but would you support Barack Obama if he decided to run?

Though you may have thought otherwise after he stuck his nose our last state primary and endorsed Juliana Stratton over That Guy who dared cross Mike Madigan, the Obamas will not be returning to Illinois...

Obama says he plans to stay in Washington after presidency - LA Times

Maybe the south side of Chicago is too violent and doesn't have good enough schools for them, despite the great strides we've made in the last 8 years towards reducing crime and improving education? In any case, though lack of residency didn't stop Rahm, I doubt Barrack will be running for any IL public office.

[chicagobear]

Originally Posted by dtcbnd03

A defined contribution is a million times better than a defined benefit plan. I can name dozens of broke pension plans. I can not name one underfunded 401k plan. Best solution is to require that every American have a 401k plan and then force them to contribute 10% of their income towards that plan. Then you don't need pensions, social security, etc.

That's kind of what Social Security is supposed to be with the employee and employer contributions.

[dtcbnd03]

Originally Posted by chicagobear

That's kind of what Social Security is supposed to be with the employee and employer contributions.

But there is a HUUUUGE difference. Social Security is not your money under your name and SSN. Same is true with pensions which is why companies/politicians can rob from them. 401k is the only system under your name and SSN and no one can take from it except you. If it's underfunded that's your own fault.