Friday, August 03, 2012
America's Worst Fiscal Crisis, the Illinois Pension Ponzi Scheme
A special session on August 17th has been called by Governor Pat Quinn, to deal with America's worst fiscal crisis, the Illinois Pension Ponzi Scheme. Since it costs an extra $13 million each day the scheme is not stopped, it's not clear why he waited until now instead of forcing legislators to keep working all summer.
And, it's not clear what House Speaker and Illinois Dictator Michael Madigan, the Bernie Madoff of Illinois, will "allow" with his power in our so-called democracy, but with election season approaching, it's not likely he will want to jeopardize his main priority, which is to rig and manipulate elections to keep himself in power as he has done for 40 years.
Locally, State Rep Darlene Senger has been part of the pension working group, studying the options and solutions. She says as legislators started to get closer to some deal that could work, the Madigoons (including Lisa Madigan) decided to throw a poison pill into the process by coming up with a cost-shifting scheme that would dramatically increase property taxes in the suburbs.
In the race for the open seat for 84th District State Rep, there are two completely opposite candidates on this issue.
Pat Fee, from Aurora, who has also worked with Senger, strongly supports pension reform that will save taxpayers from further harm. Like many legislators, she believes cost-shifting of pensions to local schools, colleges and universities is part of an overall complex question of education funding.
However, Stephanie Kifowit, the party girl alderman who pledges her allegiance to the political mafia every day, says she will do whatever Madigan tells her, even if it sticks billions of costs onto suburban taxpayers.
Kifowit does agree there needs to be reform to the pension system, but not for the reasons taxpayers are concerned about.
"I just want to make sure we fund the pension system so I can get one" Kifowit told a source.