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Sunday, December 13, 2015

Intermission time at Illinois pension theatre

In our last episode, http://www.truncatedthoughts.com/2015/05/another-act-coming-to-illinois-pension.html  the Illinois Supreme Court had just struck down the pension agreement the legislature had pieced together.

This was no surprise.  That legislation was unconstitutional on its face and was mainly designed so the legislators could claim they had taken action, without actually accomplishing anything.

That was in May, 2015.  It's now December 2015. What's been accomplished in the last seven months?  Nothing.

The theatre this time involves the lack of a budget for the state of Illinois. Illinois is supposed to have a balanced budget beginning July 1, but we don't have a balanced budget or any budget at all.

Despite no budget, the rate of spending that's actually occurring will leave Illinois in the hole for the 2015-2016 fiscal year.

The attention on the budget story is a distraction from another seven months of failure to deal with the larger fiscal crisis.  It's more theatre.  Neither Rauner nor the legislature has to take the flak for actual activity. It's just more theatre.

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