Why Illinois is broke?

Why Illinois is broke?

I can answer that question for you!  Endless amounts of spending on the Public Sector is why Illinois is broke.  The Public Sector are the ones squeezing us.  Just recently there was an article in the Daily Southtown by Robert J. Samuelson, a Columnist for the Washington Post, blaming the elderly for squeezing the rest of us, but here in Illinois, it is obvious to me, that the burden falls on the Public Sector not the elderly.  The Public Sector’s salaries and “cradle to the grave” benefits which include big pensions and health coverage until death, has eaten away all the tax money the State of Illinois has received.  Illinois will not balance its’ budget and never will unless pension reform is put in to place.  The Public Sector workers in Illinois receive 27% more a year in salary and $13,500 in benefits, on average, more than the Private Sector.   

An article written by Austin Berg was published on July 14, 2017 in the Daily Southtown regarding the States’ key spending categories from 2000 to 2015.  The total revenues over this time period increased a healthy 57%; spending on culture and the environment decreased 59%; excluding pensions, spending on higher education decreased 8%; spending on human service increased 10%; spending on public safety increased 12%; and finally, excluding pensions, spending on K-12 education increased 35%.  On the other hand, spending on Medicaid increased 141%; spending on State employee insurance increased 166%; and, spending on State employee pension benefits increased 586%.  Illinois State workers are the highest paid in the nation after adjustments for cost of living.  Not only are they the highest paid in the nation, but they receive “Cadillac” health insurance when all the meanwhile, our State has a “Chevy” budget. 

In another article published in the Daily Southtown written by Austin Berg, dated February 18, 2018, State pensions are busted because politicians underfunded them.  Politicians are most definitely to blame for the pension mess, but that doesn’t mean taxpayers are too.  It also does not mean that shackling future generations to debt they can never pay is a fair solution.  Illinoisans have paid billions more than the infamous Edgar Ramp mandated to fund State pensions with dismal results. 

The real problem? The growth in benefits.  Total benefits promised to members of Illinois State five run pension funds increase at an average rate of 8.8% each year from 1987 to 2016.  According to data from the Illinois Department of Insurance, that’s an increase more than 1,000%, or eight times faster than median household income growth over the same time.  That fact is that benefits have grown far beyond what Illinoisans could ever afford to pay.  So, as you can see, the real problem is not the elderly squeezing us but the way the politicians give away our tax dollars to the Public Sector so that they can stay in office to buy their votes.  

In closing, I disagree with Robert J. Samuleson, of the Washington Post, that the elderly are the problem.  More so, the real problem is the corruption brought on by former Illinois politicians as well as some that are currently in office.  They are the ones responsible for the problem, not the elderly.  Furthermore, until the Public Sector gets in line with the Private Sector, Illinois will go bankrupt.  In retrospect,  everyone will lose with the exception of the people who are smart enough to leave this State before it happens.   

Ted Neitzke