From the Illinois Alliance for Growth
Will the State Republican legislators and candidates who want to borrow nearly $20 billion for pensions please come forward?
Illinois Alliance for Growth President Greg Blankenship today called on Republican legislators, gubernatorial candidates and candidates for other state offices to come forward if they are truly interested in a state pension reform scheme that borrows nearly $20 billion today in exchange for 35 years of state government living on a “…strict diet…” of spending.
On Friday afternoon (January 22nd), the Illinois Policy Institute emailed supporters and the conservative blog Illinois Review a “defense” of their pension reform scheme that offered assurances but did not specifically address issues raised by the Illinois Alliance for Growth.
Included were claims of legislative “interest” among caucus leaders and rank file members of the General Assembly. According to the response, “We’ve presented our pension funding proposal to all four caucuses in Springfield, and it has garnered interest from some legislative leaders and members of both parties.”
Both House Republican Leader Tom Cross (Oswego) and Senate Republican Leader Christine Radogno (Lemont) have steadfastly argued that budget reforms must come before revenue increases. Endorsing a revenue first plan, and then trusting the General Assembly to keep their word on spending limits while waiting for the constitutional amendment process to play out would be at odds with with their stated position.
“Except for four Senate Republicans who supported Gov. Blagojevich’s 2003 pension fix that doubled state debt, Republicans have been universally opposed to borrowing our way to prosperity so I find the claim of bipartisan interest extraordinary,” said Illinois Alliance for Growth President Greg Blankenship. “Just which state leaders are “interested” in their proposal is a reasonable question and if any Republican legislative supporters do exist after bashing Democrats for borrowing these last seven years — they especially should come forward.”
Last week, the Illinois Alliance for Growth released a critique of the Illinois Policy Institute’s pension plan, “Mission Possible,” a scheme to borrow nearly $20 billion according to the Suburban Daily Herald to meet the state’s pension payments in exchange for future spending constraints. The critique cited specific concerns surrounding the Institute’s pension borrowing scheme that included constitutional issues, implementation challenges and flawed assumptions that would open the spending floodgates in Springfield. The critique, “Mission Possible?” No, More Like “Get Smart” can be found at www.all4growth.org.
The Illinois Alliance for Growth is a non-profit, non-partisan taxpayer protection group dedicated to economic growth and limited government. You can find out more about the Illinois Alliance for Growth at www.all4growth.org.