Illinois Governor Pat Quinn is trying to leverage a lame duck legislative session to pass substantial pension reform. Some 30 departing legislators can now supposedly vote their consciences on the issue. He has even released a few videos to simplify the problem for the public. One of them features a cartoon snake called Squeezy the Pension Python. The outstanding pension liability stands at a staggering $96 billion. The Chicago Tribune is skeptical lawmakers can get the job done. Public sector labor leaders are opposed to the two principal proposals being considered. They argue that the measures would violate the state constitution. In Illinois, labor also has a legitimate gripe that public workers are being asked to bear the brunt of the burden of state politicians' culture of fiscal irresponsibility, which has endured for years in Springfield. The legislature consistently failed to make its annual required contributions to the state's pension systems.
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Copyright © 2013 Manhattan Institute for Policy Research, Inc. All rights reserved.
52 Vanderbilt Avenue, New York, N.Y. 10017
phone (212) 599-7000 / fax (212) 599-3494
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