Can Rauner win re-election?

[skinnyb82]

I honestly don't even know why Rauner wants to be Governor for another term. He, of all people, should see the writing on the wall. State pension contributions will decrease by $1.5B in fiscal 2018, meanwhile the obligation compounds at an exponential rate. Rosy assumed rates, of return combined with a reduction in contributions is a recipe for hastening the downfall of the state pension funds. They're running out of accounting gimmicks to hide the truth about how woefully underfunded the state plans are so I don't see anything but a total meltdown before the end of the next Governor's term. If Rauner is in office at the time, you can bet he'll be blamed (for 40 years of crap that he has nothing to do with). Why not let Pritzker or Kennedy own it? That's assuming Rauner could simply escape blame by not being Governor when the pension mess morphs into a full-blown crisis.

 

Madigan will obstruct, outright defy everyone who gets in his way. Dems, Republicans, he doesn't discriminate based on political affiliation. He also doesn't play party line games. It'll be same thing, different day with a Democrat (symbolically living) in the Governor's Mansion. Madigan will continue his "Do what's best for Madigan and Cullerton, you can either follow, get out of the way, or I'll ruin your career, your choice." Give Pritzker the reigns and let him see that he'll get what Madigan gives him, nothing more. I'm guessing Pritzker and Kennedy both assume that, since Madigan and Cullerton are Dems, they'll do whatever the Democrat Governor wants them to do. Not how it works. I just know I wouldn't wanna be at the helm of this ship when it finally hits the "debt iceberg." It's gonna be ugly.

 

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[Plinkermostly]

It occurs to me that most people in this state are not going to realize how deep the hole is until they have to auction off Lincoln’s Tomb.

And this is not a purple statement.

[vito]

Daley sold off the parking meters and the Skyway. Maybe Madigan can sell Lincoln's tomb. But seriously, I could see the State begging the Federal government for a bailout to pay unpaid obligations and to save the pension funds for the government union workers who have kept the Dems in power all these years. The best solution would be a new law that would allow states to declare bankruptcies in a way that overrides state constitutions and would allow the voiding of all contractual agreements the state has, including with the unions. A federal monitor handling the bankruptcy could demand the ending of the Township level of government, as well as many of the other taxing entities that now exist as a means of permanently reducing the tax burden on residents. I won't hold my breath waiting for this to happen.

[TomKoz]

Ted Kennedy, John McCain, .... Michael Madigan ??

 

Karma eventually comes around to bite you in the end.

[skinnyb82]

It occurs to me that most people in this state are not going to realize how deep the hole is until they have to auction off Lincoln’s Tomb.

 

 

And this is not a purple statement.

Funny you mention that because Lincoln's Tomb is collateral for Illinois General Obligation debt. The budget collateralized state assets as well as assets purchase by home rule units with state funds, putting bondholders above the residents when this state does go belly up. Some law professor said he would give the person who drafted that provision an A+ if it were an assignment in his class to create a mortgage that absolutely screws over the public and is unassailable, even in bankruptcy.

 

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