Illinois’ fiscal cliff is public pensions; reform must happen
In Washington, the talk has turned from the election to the “fiscal cliff” now facing our nation. We have our own cliff in Illinois, and as our pension debt mounts and our credit ratings plummet, we are speeding faster and faster toward the edge.
The legislative session in January will be the time to slam on the brakes.
Pension reform won’t be easy. The debate itself already has generated a great deal of anger. A recent poll by the Chicago Tribune shows that the majority of voters blame politicians, not workers, for the state’s pension fiasco. Their anger is well-placed.
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