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Wednesday, August 22, 2012

Illinois Pension Ponzi Scheme | House Minority Leader Tom Cross and Senate Minority Leader Christine Radogno Speak As Michael Madigan Evades Responsibility

NOTE:  On the day the so-called "special session" was called for pension reform, Illinois House Speaker Michael Madigan "coincidentally" got a $97,000 contribution from SEIU to make sure pension reform didn't proceed.

In the race for 84th District State Rep in Aurora/Naperville, candidate Pat Fee has urged immediate action while candidate Stephanie Kifowit, backed by the political mafia, says she supports only what Madigan, the Bernie Madoff of Illinois, says she can support.


Al Kohollick said...

This is what pisses me off about Madigan. He's been running State government here for the last 20 years or so and nothing is ever his fault. The State is damn near broke if not insolvent. It's not his fault. The culture of State government is about as corrupt and sleezy as it gets. It's not his fault. How much longer is he going to blame Blagoevich ? He certainly gives the impression of not giving a rat's ass about solving real issues for real people. He seems more interested in answering the question of: "Where's mine?"

Anonymous said...

The Illinois pension system would work if the State had made its contribution over the past 40 years. Republican Governors Thompson, Edgar and Ryan dropped IOU's into the pension fund and used to money for their pet projects. Democrat Blago did the same.

State employees were promised a pension and the state gave them an IOU. Now the state wants to cancel the IOU and go back on the promise. If the state had made the pension payments over the years there would be no problem.

IMRF (the pension fund for city employees) is solvent and has solid funding because the law requires cities to make their contribution each year. No IOU's allowed.

The politicians failed to make the annual payment and now they want to shaft the employees. Both parties share responsibility for this fiasco.

Anonymous said...

And who DID put the money they were supposed to in the funds? The employees. They made their required contribution every year -- THEY could NOT put IOUs in the fund. THEY were not allowed to break the law -- only the legislature and governor get away with breaking the law.