To the Editor:
Regarding the pension situation in this, my home state of Illinois (born here, educated here, volunteered for military duty here, raised a family here, and have lived and paid taxes here all my life), I find it sad that no one addresses where all that money owed the pension systems actually went.
Yes, it is billions. It was already paid by us in taxes. Was it stolen? No, too much to hide. Was it saved? Not hardly, or we wouldn’t owe it as debt. So, if all those billions weren’t stolen or squirreled away by the legislators we elected, where is it?
Well, obviously, it was spent by our elected representatives. We got our money back already on better schools, roads and social programs (all of which improved the business climate as well).
We must have wanted it spent, because we kept electing people who spent it on us. Now we want to spend it on ourselves again. We want to take it from our public servants who paid their fair share working for lower wages than private industry (especially considering the level of teachers’ educations) for a guarantee of an adequate retirement pension.
We allowed elected representatives to spend that money on us and now we have an obligation to pay it back for what we have already received in benefits. I say we spend less and find ways raise the money to pay off our debts, not default and steal from those we owe to even further benefit ourselves.