Imagine you live in a house filled with garbage. Nothing is going out, and more is coming in all the time.
You tell your wife to take out the trash. She replies that she has a plan to deal with the situation.
You contemplate taking action on your own. In the end, nobody does anything.
After years of living with the problem, you agree at last … to meet and talk about it.
Call this a conference committee.
That’s the way I look at the pension crisis facing the state of Illinois at this point and the Legislature’s latest solution.
Many of my colleagues in the media, many people who run good government and business groups keep urging our elected officials to do something.
These organizations act like when that day comes, it will be a great victory for the people of Illinois.
“Hurray! Someone decided to take out the garbage.”
I find it impossible to get excited about someone doing their chores.
And this is what the pension crisis really boils down to.
When it’s finally resolved, or at least approached with surgical gloves, this state’s financial problems are still going to be there.
The entire goal of the pension fix is to solve problems that are really building 10, 20, 30 years down the road. And to improve the state’s credit rating so it can borrow more money at lower interest rates. More…