Health & Fitness
Reboot Illinois Winter Storm Virgil Edition: $100b Debt, Pension Recap, AFSCME and Rahm
In today's winter storm edition, Reboot looks at Rahm's first comments on the CPS closings, Illinois likely surpassing the $100 billion mark in debt, pension reform, transparency and more.
LIVE FROM THE HEART OF VIRGIL Your state capital is at a standstill this morning. How is this any different than usual, you ask? Because today it's at a standstill beneath 17 inches of snow courtesy of Winter Storm Virgil. Luckily, the Legislature got out of town Friday for its two-week spring break and Virgil is no match for Reboot Illinois Daily, which comes to you live today from the Reboot Illinois Emergency Weather Bunker. Onward!
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A QUICK RECAP The Legislature adjourned last week for two weeks, but not before the House declared the current annual, compounded, 3 percent cost of living adjustments now collected by all public retirees an endangered species. This guaranteed raise, computed using compound interest, is the greatest driver of the state's ever-increasing pension liability. The House last week passed a bill that would sharply curtail the annual COLA -- meaning retirees would receive less but also that their retirement funds will survive to pay their pensions. Reboot Illinois' Madeleine Doubek gives a status report here.
Find out what's happening in Palatinewith free, real-time updates from Patch.
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$100 BILLION Speaking of pension debt, Crain's Chicago Business reports today that Illinois probably hit the $100 billion mark in unfunded pension liability sometime in March. Last summer, the estimate stood at $83 billion. Then in the fall it was raised to $97 billion, with the Quinn administration estimating another $17 being added each day. It's a tricky figure to compute because it's based on investment performance of the five state pension systems' assets, but Crain's Paul Merrion reports that reasonable estimates say we're now at the 12-figure mark. Not a milestone to be proud of.
Find out what's happening in Palatinewith free, real-time updates from Patch.
"Illinois would be only the second state to reach the 12-digit mark. But California, the previous epic fail, has a much larger tax base and is on the mend," writes Merrion. We have a link to the story in today's Daily Tip-Off section.
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NO PAYCHECKS FOR YOU Illinois law requires that the General Assembly pass a balanced budget each year. But it's the General Assembly that decides what constitutes "balanced." Last week House Republicans proposed a new arbiter of the balanced budget: the Illinois Auditor General. The House GOP has proposed a constitutional amendment in which lawmakers and state constitutional officers would not get paychecks if the auditor general deems their budget unbalanced. Will this go anywhere? Probably not, given the GOP's extreme minority status in both Statehouse chambers. Still, it's fun to imagine the chaos that would ensue as lawmakers feel the same pinch as the thousands of businesses who now wait months on end for payment from the state.
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READY FOR REFORM? Better Government Association President Andy Shaw is willing to adopt the Cub fan's tradition of springtime optimism as he weighs two reform efforts now under way in the Chicago City Council. But also in Cub fan tradition, he won't be surprised if there's a June swoon. Read Shaw's weekly column here.
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WRESTLING WITH AFSCME Illinois Policy Institute columnist Scott Reeder has a friend who is an AFSCME member and likens AFSCME contract negotiations to pro wrestling. There's lots of action, but the drama is all scripted. Reeder writes that he'd prefer less drama and more transparency with the taxpayers who pay for these contracts. He's got a good point in his weekly column.
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DAILY TIP-OFF Chicago Mayor Rahm Emanuel over the weekend addressed the school closing announcement that dominated the news in Chicago late last week and put Chicago Public Schools into the national spotlight. Like so much else in Chicago, the school closings ignited anger along racial and economic lines, but Emanuel avoided that fray in his statements on Saturday. Emanuel acknowledged the "anguish" that has come from the closings, but said it "pales compared to the anguish that comes by trapping children in schools that are not succeeding.”
The Chicago Tribune and the Joyce Foundation have teamed up for a survey on Chicago schools, and the Tribune has begun a series of editorials based on the results. In short: More charter schools, a more serious look at vouchers, more parental control.
We've come to look forward to Mondays because that is when GateHouse News Service publishes the latest installment in its "Deadbeat Illinois" series. Today the focus is on Lutheran Social Services, one of the biggest providers of substance abuse services and other important functions for the state. It's been turning away clients and laying off staff because the state is chronically late on payments that total 1/10 of its operating budget.
Find links to these and other Illinois news stories in our Daily Tip-Off section.
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DEMAND ACTION As mentioned earlier, the Illinois House on Thursday passed an important pension reform measure that must be part of any worthwhile effort to fix the state's pension crisis. But will it make it into a final bill and get a vote in the Senate? Click here and help us send a message to our leaders that we demand pension reform and an end to the financial instability that is hurting our schools, our economy and has given Illinois the lowest credit rating in the country.
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REBOOTING BATAVIA Want to learn more about Reboot Illinois and its mission? Come hear from editor Matt Dietrich, Chief Operating Officer Madeleine Doubek and Director of Digital Strategy Anthony Knierem at 7 p.m. April 4 in Meeting Room A of the Batavia Public Library, 10 S. Batavia Ave. (Route 31 and Wilson Street) in Batavia. We want to hear your thoughts on improving Illinois' government, state finances, schools and business climate.
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WANT TO TAKE ACTION? LOOK HERE As Illinois continues to meander in addressing its dire financial problems, U.S. Sen. Mark is concerned that his home state and others might eventually give up and turn to the federal government for a lifeline. No way, says Kirk. He's introduced a resolution to prohibit bailouts of states that created their own financial problems. We've created a petition where you can show your support for Kirk's effort. Click here and sign on.
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WE'RE HIRING! We are looking for a director of outreach to work with our partners both on social media platforms and in the communities. See the job description here. Know anyone who would be a great fit? Let them know about us!
We're tired of Illinois government being a national laughingstock. Aren't you? Visit our website and make a difference.
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