Skip to comments.Illinois Senate President (D) Chicago: Pension debt not a 'crisis,' but about lowering taxes
Posted on 10/21/2013 1:35:10 AM PDT by Cincinatus' Wife
Illinois Senate President John Cullerton said Sunday that the state's massive public employee pension debt is not a "crisis," but instead an issue being pushed by business-backed groups seeking lower income taxes at the expense of retiree benefits.
"People really misunderstand the nature of this whole problem. Quite frankly, I don't think you can use the word 'crisis' to describe it at the state level," Cullerton said in an interview on WGN-AM radio.
"It's something we have to deal with, but it's not something that we're on the verge of bankruptcy on," Cullerton said.
The Chicago Democrat's remarks came as lawmakers prepare to return to Springfield on Tuesday for the fall session with the issue of Illinois' worst-in-the-nation $100 billion unfunded pension liability at the top of the agenda. Critics have contended the pension problem has created an unstable economic environment in Illinois, and the state's bond rating has been downgraded over the failure of government to deal with the issue..........
The state Senate president said he was unsure whether Republicans, who have pushed for larger savings than what the conference committee has discussed, will support a final plan. Noting the panel contains a number of GOP lawmakers running for higher office next year, Cullerton accused them of "trying to out-Republican each other" in advance of the March primary.....
(Excerpt) Read more at chicagotribune.com ...
Something tells me that the penalty for the lies they tell will fall on them sooner rather than later.
The top 100 TEACHERS UNION reps are promised almost 900 million in retirement benefits. That is teachers union members ALONE. And those figures were from 2-3 years ago. This man is a liar.
Well then do NOTHING and see what happens.
The deeper the hole the farther they fall.
It’s not a spending problem. It’s a revenue problem. Raise taxes. Democrats have the solution to every problem.