Illinois Comptroller Leslie Munger announced the state will delay a $560 million pension payment as the state’s government-pension-driven fiscal crisis worsens.
The Illinois Supreme Court’s precedent has made it impossible for Chicago to stave off bankruptcy by making even the most meager reforms to government-worker pensions.
Changing the repayment plan to one based on flawed assumptions and bad accounting does nothing to shield taxpayers from the risks of an imperfect system.
If state lawmakers fail to pass a balanced budget by a three-fifths majority vote, essential programs will be harmed. But thanks to House Speaker Mike Madigan and Senate President John Cullerton, politicians will still get their paychecks.