“If America is two countries, Illinois is two states,” the Peoria Journal Star said recently in an editorial, censuring House Speaker Michael Madigan (D-Chicago) and attributing the state’s “abysmal” financial status to continued ineptitude and duplicity in the General Assembly.
Voting for state Rep. Mike Madigan to serve yet another term as House Speaker may be more difficult for Democrats this time, according to the screenwriter for a documentary about the Chicago Democrat.
With Illinois' state pension liability 17 percent more than it was last year, the vice president of a Chicago-based think tank recently said that 401(k)-style plans for public employees would go a long way toward easing the pension crisis.
Already struggling under a multi-tiered fiscal burden, Illinois taxpayers are now confronting incontrovertible evidence of serious fiscal setbacks in their state as a new report revealed staggering amounts of pension debt and escalating red ink.